Introduction.
Elixir Energy (ASX: EXR) is a gas expedition and advancement business presently concentrated on its portfolio of gas and hydrogen properties in Mongolia and in Queensland, Australia. As an early mover in Mongolia, Elixir Energy is the very first business ever to stream gas in the nation.
The tidy hydrogen market is quickly emerging and is anticipated to end up being an ever-expanding part of the international energy mix by 2030. This forecast sets the phase for Elixir Energy to reach production from its in-development Gobi H2 hydrogen task in Mongolia and have an early mover benefit in a sector that is bring in international attention from the world’s biggest business.
Elixir Energy just recently started establishing the Gobi H2 green hydrogen task in Mongolia. The task has remarkable eco-friendly resource inputs and the prospective to end up being a first-rate hydrogen property. The business has a growing 50/50 collaboration with Japan’s Terras Energy in this task which previously this year transferred to the point of Term Sheet execution.
There are 2 engaging benefits to establishing hydrogen properties in Mongolia: access to extremely high quality renewable resource and distance to the emerging hydrogen market in China– most likely to be the world’s biggest. In addition, Elixir Energy has the long-lasting capacity to provide hydrogen to China by pipeline instead of by boat, a considerable expense benefit as advancement advances.
In addition to the Gobi H2 hydrogen task, Elixir Energy’s Nomgon coal-bed methane (CBM) task is likewise found in Mongolia.
The Nomgon CBM task remains in the South Gobi area of Mongolia and on the Chinese/Mongolian border. The perfect area of the property supplies access to outstanding facilities, consisting of prepared pipelines and regional mines as consumers. The Nomgon task consists of a CBM pilot production plant, which previously this year passed a crucial turning point of 200,000 basic cubic feet daily (SCFPD)
Current flare at the Nomgon plant.
In Queensland, Elixir Energy obtained the Grandis Gas task in 2015 and is presently moving towards drilling the Daydream-2 appraisal well in October 2023, that will look for to materially increase contingent resources, perhaps book preliminary reserves and verify liquids material.
The business is led by a group of supervisors with direct experience in Australia and Mongolia and proficiency in the natural deposits market, neighborhood engagement and dealing with federal government stakeholders.
The Gobi H2 task intends to take advantage of emerging chances in the tidy hydrogen market. The task is preferably situated for economical transport, and the business is intending to participate in FEED for a preliminary pilot plant.
Job Emphasizes:
- Pre-feasibility Research Study (PFS): Elixir Energy has actually obtained a PFS to support the advancement of a pilot plant as the task takes advances to reach complete production.
- Collaboration with Terras Energy (relabelled from SB Energy following its acquisition by Toyota Tsusho): The business just recently signed a Term Sheet with SB Energy to check out and establish the property equally. Terras Energy is currently running a first-rate wind farm in the area and will provide its proficiency to Elixir’s future prepare for the property.
- Perfect Hydrogen Shipment Expense: A considerable benefit of the task is the capacity for much lower shipment expenses when production starts. The task would help with shipment by pipeline, permitting the business to carry hydrogen by land, instead of sea, producing substantial expense savings.
Elixir Energy’s 100-percent-owned coal-bed methane (CBM) task is preferably situated in the South Gobi area of Mongolia. This area offers the property access to robust regional facilities and close access to Chinese energy markets– the world’s biggest.
Job Emphasizes:
- CBM Pilot Job In Production: The pilot plant has actually passed an essential production turning point of 200,000 square cubic feet daily previously this year. Water production has actually likewise stayed steady at ~ 150 barrels daily. Both of these outcomes are guaranteeing as the property continues to move on– with another pilot well presently being contributed to the Job.
- 2023 Drilling Program Underway: Expedition started in 2019, and the very first CBM discovery was made in 2020. The 2023 drilling program is presently underway.
- District-scale Property: The Nomgon task covers a considerable 30,000 square kilometers in Mongolia. Preliminary expedition projects have actually been appealing and show the capacity for the property to end up being a considerable manufacturer of local energy markets.
The business’s property in Queensland, Australia, covers roughly 1,000 square kilometers in a recognized oil and gas province. The task is appropriate for economical transport to domestic and worldwide oil markets.
Job Emphasizes:
- Strong Regional Facilities: The area’s long history of oil and gas production has actually led to a robust facilities, consisting of transport and power gain access to– and neighborhood assistance for the market.
- Nearby to Existing and Proposed Pipelines: The property lies near existing– and proposed gas pipelines to help in effective and inexpensive transport as production commences.
- Well Preparation Underway: Elixir Energy is presently working towards spudding the Daydream-2 appraisal well in October this year.
Management Group.
Richard Cottee – Non-executive Chairman
Richard Cottee was selected as the non-executive chairman of the business on April 29, 2019. Cottee was the handling director of coal-seam-gas( CSG)- focused Queensland Gas Business (QGC) throughout its development from a $20-million market capitalization junior explorer through to its acquisition by BG Group for $5.7 billion. QGC’s CSG properties are now run by Shell and produce gas that is offered to China and other LNG markets.
Initially a legal representative, Cottee has actually invested the huge bulk of his profession in senior executive functions in the energy market, consisting of as CEO at CS Energy, NRG Europe, Central Petroleum and Nexus Energy. A 32-year veteran of the market, Cottee is a strong company advancement expert and a graduate of The University of Queensland.
Neil Young – Handling Director and Ceo
Neil Young was selected to the board of Elixir on December 14, 2018, as its ceo. Young has more than twenty years of experience in senior management positions in the upstream and downstream parts of the energy sector, concentrating on company advancement, brand-new endeavors, gas marketing and basic industrial functions. He has actually worked for a series of business in the UK and Australia, consisting of EY, Tarong Energy and Santos. Young established Golden Crowd Ltd in 2011 with a view to checking out gas on the Chinese border in Mongolia. He has actually likewise established different brand-new endeavors in other nations consisting of Kazakhstan, Japan and the U.S.A.. Young has an M.A. (Hons) joint degree in economics/politics from the University of Edinburgh.
Stephen Kelemen – Non-executive Director
Stephen Kelemen was selected as the non-executive director of the business on May 6, 2019. Kelemen led Santos’ coal joint gas (CSG) group from its creation in 2004 and drove the development in this location that permitted Santos to turn into one of Australia’s leading CSG business. An engineering graduate from Adelaide University, Kelemen served Santos for 38 years in several technical and management functions.
Kelemen is presently an accessory teacher at the University of Queensland’s Centre for Coal Joint Gas and likewise serves as a non-executive director on the boards of Galilee Energy (ASX: GLL) and Development Energy Ltd.
Anna Sloboda – Non-executive Director
Anna Sloboda was selected as the non-executive director of the business on October 1, 2020. Sloboda is a joint Belarusian/Australian person and has more than twenty years of experience in business financing, and in establishing junior resource business running worldwide.
Sloboda is presently an executive director of Red Castle Resources Pty Ltd, an independently owned mineral resources expedition business with a series of jobs in Africa and South America. She likewise acts as an advisory committee member, maritime archaeology, at the Western Australian Museum.
Formerly she was a co-founder of Trans-Tasman Resources and because capability had significant experience in handling Chinese off-takers and partners. Other previous companies consist of Lehman Brothers, Clough and Curtin University.
Sloboda has a Master of Economics from Belarusian University and an executive MBA from Melbourne Company School.
Victoria Allinson – Business Secretary and Chief Financial Officer
Victoria Allinson is a fellow of The Association of Licensed Chartered Accountants, a fellow of the Governance Institute of Australia and an NSX-nominated consultant. She has more than thirty years of accounting and auditing experience, consisting of senior accounting positions in a variety of noted business and was an audit supervisor for Deloitte Touche Tohmatsu. Allinson has actually acquired expert experience while living and operating in both Australia and the UK.
Her previous experience has actually consisted of being business secretary and CFO for a variety of noted business, consisting of ASX-listed: Kiland, Security Medical Products, Marmota Limited, Centrex Metals, Adelaide Energy, Business Energy NL, and Island Sky Australia in addition to a variety of unlisted business.