Elixir Energy opens partner talks as exclusivity expires

• Elixir Energy ended its exclusivity agreement with Beach Energy regarding a potential strategic farm-in.
• Shares in Elixir Energy traded unchanged following the corporate update.
• The business plans to pursue third-party interest while remaining in ongoing discussions with Beach Energy.

Elixir Energy (ASX:EXR) has concluded its exclusivity agreement with Beach Energy (ASX:BPT) regarding a proposed farm-in to its Taroom Trough portfolio.

The bilateral exclusivity period expired on Oct. 1 without the parties finalising binding documentation for the potential transaction.

While Elixir and Beach made progress towards a transaction, the expiration allows Elixir to engage with other interested third parties regarding its asset portfolio.

The company received unsolicited expressions of interest from third parties during the exclusivity window.

The board stated that it intends to consider all available strategic alternatives to maximise shareholder value.

Following the announcement, the Elixir Energy share price was unchanged at $0.08.

The company remains in ongoing non-exclusive discussions with Beach regarding its proposed strategic farm-in.

The expiration of the exclusivity period does not terminate discussions or prevent the parties from progressing a transaction.