Elixir Energy (ASX: EXR) has secured firm commitments for a $5 million placement that will fund further Taroom Trough well testing and launch a strategic review of options for its Queensland gas portfolio. Proceeds will also support a 60-day soak period and second phase of flow testing at Lorelle-3H, along with artificial lift and renewed flow testing at Diona-1 subject to joint venture approval. Elixir is the largest acreage holder in the Taroom Trough and holds interests across every known and tested play in the basin. Strategic Options Open UpThe strategic review will examine alternatives ranging from retaining and self-funding some or all assets through to partial or full farm-outs, strategic partnerships, JV structures, and other corporate structures. Funding for Diona-1 is intended to support artificial lift, renewed flow testing, and completion of the potential resource certification process, while working capital will cover execution of the strategic review.