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Independent Research Report – 19 July 2022

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Elixir Energy Limited (ASX: EXR) is an ASX listed gas exploration and development company. It is currently primarily focused on an exploration and appraisal program targeting natural gas in the form of coal-bed methane (CBM – known as coal seam gas – CSG -in Australia) in Queensland, Australia and the South Gobi, Mongolia. Elixir Energy has been developing the Gobi H2 green hydrogen project and solar project in Mongolia.

Elixir Energy holds 100% of a Queensland exploration permit ATP 2044, named Grandis Gas Project, located in the Taroom Trough of the Bowen Basin, Queensland. The Grandis Gas Project has booked an initial contingent resource (2C) of 365 billion standard cubic feet of gas. In late 2023, the Company completed the Daydream-2 appraisal well; the well intersected an unexpected permeable sandstone zone at approximately 4,200 metres.  The zone flowed gas into the wellbore which resulted in a flare at the surface.  

Elixir Energy holds 100% of a CBM production sharing contract (PSC), located just to the North of the Mongolian/Chinese border, which is called the Nomgon. The Nomgon Project licence area covers ~30,000 km2 (~7 million acres).

The Company’s strong foundation of multiple level Government and other energy stakeholder relationships is now being used as a platform to grow cleaner energy options involving hydrogen derived from renewables (green hydrogen).



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Mongolian Nomgon Gas Project – the Company’s Pilot Production program is progressing and the planned CBM exploration and appraisal program for 2023.

Queensland Gradis Gas Project – the Company plans to drill the Daydrean-2 appraisal well in 2023.


Mongolia Nomgon Gas project – in addition to an initial (expandable) generation project, Mongolia has multiple market channels for gas, both local and export. The locational advantages are reinforced by geo-politics.

Queensland Grandis Gas Project – located close to the Wallumbilla gas hub, which is connected to domestic and international markets.

Daydream-2 Rig


Read more about Elixir Energy’s Grandis Project in Queensland.


Mongolian Nomgon Gas Project – low-cost, safe and experienced Operator – with deep CSG expertise from Australia being transmitted to our increasingly experienced team in Mongolia.

Queensland Grandis Gas Project – long-term Australian team with extensive SG expertise.


Read more about Elixir Energy’s Hydrogen & Green Energy project in Mongolia.


Elixir made Mongolia’s first gas discovery in 2020, booked the first contingent resources in 2021, and in late 2022 commenced an extended pilot production test.

The Grandis Gas Project has booked an initial contingent resource (2C) of 365 billion standard cubic feet of gas in late 2022.


Read more about Elixir Energy’s Nomgon Project in Mongolia.


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Project Locations

Australian Office

Unit 3B, Level 3
60 Hindmarsh Square
Adelaide, SA 5000

+61 08 7079 5610

Mongolian Office

GOH LLC, 13th Floor, Central Park Tower, Genden Street, Chinggis Avenue, Sukhbaatar District, Ulaanbaatar, Mongolia

+976 7755 2011

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