Elixir Energy (EXR) H1 2026 earnings summary

Executive summary

• Focused on executing the Taroom Trough Strategic Plan, including key leadership appointments and operational readiness for major drilling campaigns at Lorelle-3 and Diona-1.

• Achieved all operational objectives for the half-year, positioning for significant drilling and testing results.

Financial highlights

• Net loss from continuing operations after tax was $2,022,135, up $218,940 year-over-year, mainly due to higher share-based payments and corporate costs, partially offset by lower interest expense.

• Cash balance at 31 December 2025 was $20,575,342, up from $6,576,021 at June 2025, reflecting a $3.9 million R&D tax refund and $14 million capital raise.

• Total assets increased to $43,905,713 from $28,804,079 at June 2025.

• Share capital increased to $165,676,801 following new share issues.

Outlook and guidance

• Well-funded for upcoming drilling and testing, with Phase 2 of the Strategic Plan underway, targeting maiden reserves and accelerated development.

• Lorelle-3 appraisal well campaign commenced post-period, aiming for commercial flow rates and reserve conversion.

• Diona-1 flow testing scheduled for end Q1 CY26, with potential for rapid tie-in and early production.