Elixir Energy locks in $10M R&D-backed debt facility ahead of high-impact Lorelle-3 well

Elixir Energy Ltd (ASX:EXR, OTC:ELXPF) has secured a indebtedness installation of up to $10 cardinal from Endpoints Capital to forward-fund the R&D taxation constituent of its upcoming Lorelle-3 appraisal good successful Queensland's Taroom Trough — giving the institution a moving superior buffer during what shapes up arsenic a pivotal operational period.

The Lorelle-3 well, located successful ATP2056 wrong the Taroom Trough, is considered a high-impact appraisal people for Elixir arsenic it looks to beforehand its Queensland state ambitions. The institution precocious completed drilling at Lorelle-3, reaching a last extent of 3,580 metres measured extent beneath rotary array — and intersecting aggregate Permian hydrocarbon reservoir targets on the way. The confirmation of full extent marked a cardinal operational milestone for the company, with attraction present turning to valuation of the intersected intervals.

The installation is structured astir Elixir's Advance Finding from AusIndustry nether the Federal Government's R&D Tax Incentive program, which was awarded successful November 2025 and covers a three-year model from FY26 to FY28. Under that finding, up to 48.5% of eligible costs tied to the Lorelle-3 programme — spanning drilling, coring, logging, analysis, completion and investigating — suffice for a refund done the company's taxation return.

Endpoints Capital's installation allows Elixir to gully down up to 80% of its estimated FY26 R&D taxation refund up of really receiving it, smoothing retired the currency travel spread that comes with large good expenditure. With virtually each important Lorelle-3 spending expected to onshore earlier 30 June 2026, the timing makes the installation a applicable necessity alternatively than a luxury.

The presumption are straightforward: a 1% drawdown fee, a 15.75% involvement complaint that capitalises until repayment, and a hard repayment deadline of the earlier of 28 February 2027 oregon receipt of the R&D refund. Notably, the installation carries nary warrants, options oregon equity instruments attached — meaning existing shareholders look nary dilution.

“Successfully applying for the AusIndustry Advance Finding and the prequalification of the Lorelle-3 appraisal campaign, gives Elixir the information required successful bid to beryllium capable to get against its aboriginal R&D refund. With the drilling and investigating of Lorelle-3, the completion and investigating of Diona-1 and the Teelba 2D seismic run each occurring successful the archetypal six-months of this year, this installation volition springiness Elixir the equilibrium expanse flexibility to guarantee it is good capitalised between present and erstwhile the R&D refund is received arsenic portion of the company’s yearly taxation instrumentality process.”