Elixir Energy (EXR) Q1 2026 TU earnings summary

Executive summary

• Diona-1 well successfully drilled with 23m net gas pay across three Permian formations; production testing planned next quarter.

• Terms secured for H&P FlexRig 648 for Lorelle-3 appraisal well, with drilling scheduled for January 2026.

• Largest acreage position in the Taroom Trough, with significant exposure to proven gas formations.

Financial highlights

• Ended the quarter with $5.4 million in cash and $3.8 million in receivables, totaling $9.2 million in net cash and receivables.

• Net cash outflow from operating activities was $675,000; investing activities used $525,000.

• No new financing activities or borrowings during the quarter.

• Estimated 4.5 quarters of funding available based on current cash burn.

Outlook and guidance

• R&D refund of approximately $3.8 million expected in the coming quarter.

• Flow testing at Diona-1 and drilling of Lorelle-3 are key near-term operational milestones.

• 200km of new 2D seismic acquisition at ATP2057 planned for late Q1 CY26.