Elixir Energy (ASX:EXR) said the first phase of flow testing at its Lorelle-3H appraisal well in Queensland was completed, according to a Monday Australian bourse filing.

The well produced at peak rates of 10.4 million standard cubic feet per day with 10 barrels per day of light oil/condensate, or 10.5 million standard cubic feet per day expressed as a gas rate, and averaged 6.2 million standard-cubic-feet-per-day-equivalent over the hour.

The gas produced contained only 1% of carbon dioxide and included around 10% of ethane and around 4% of propane resulting in an energy/sales conversion factor of 1 million standard cubic feet of gas equalling 1.21 terajoules of sales gas.

The company's shares fell nearly 31% in recent trading on Monday.