http://www.elixirpetroleum.com/



Elixir Petroleum Limited is an Australian company with a focused strategy of North Sea Exploration. The company is listed on the Australian Stock Exchange (ASX) and on the Alternative Investment Market (AIM) in London.

The company listed in Australia in July 2004 with interests in one UK Licence covering Block 21/6b. Interests in five further UK licences were added in September 2004 as a result of the 22nd UK Licensing Round. One further licence was acquired in December 2004. Elixir currently has interests in 7 UK exploration licences covering 11 North Sea blocks.

Elixir has entered into an agreement with DNO ASA, a Norwegian exploration and production company, for the DNO Group to farmin to Elixir's 100% owned Northern North Sea block 211/22b. The well is expecte to be drilled during 2006.

Elixir's first exploration well spudded on 18th June 2005 on the Marquis prospect in UK Block 21/6b.

RNS's from ELP can be viewed at:

http://www.uk-wire.com/cgi-bin/index?search_type=3&words=elp&go.x=19&go.y=11

verbal diarrhea or what, and about as nuch talent as a bowlful- dozens of posts to himself and no replies, well bar this , what do they do with their lives?

Hows the short going?

seaquestor, you watch ELP & BOR in the next few months... Theres only one way they are going... Do your own research.......

edit... and the FTSE. Do some research, you will see!!!!!!!!!!!!!!!!!!!!

stick to your fishing, I bet your no good at that either!!!!!

Elixir Petroleum Ltd
20 June 2005




MARQUIS EXPLORATION WELL SPUDS



Elixir Petroleum Ltd (AIM Code: ELP, ASX: EXR) is pleased to advise that its
first North Sea exploration well on the Marquis prospect located in UKCS Block
21/6b has commenced drilling.


Well 21/6b-6 was spudded on 18 June 2005 by the Bredford Dolphin
semi-submersible drilling rig and is operated by Century Exploration (UK)
Limited. As at 6am on 19 June, the well had been drilled to a depth of 198m BRT
(below the rig rotary table).


The well has a planned total depth of 2,000m and is prognosed to take around 18
days to drill. The primary objective, the Palaeocene Forties-Balmoral sands, is
interpreted to be reached at a depth of approximately 1,600m or around Day 12 in
the drilling program.


The well is being drilled as a low cost finder well and will not be flow tested.


Elixir does not intend to make further announcements until the target zone is
intersected, unless significant hydrocarbons are encountered in the interim.


The Company has a 15% interest in Block 21/6b and is contributing 10% of the
Marquis well's estimated total cost of about 3.7 million (A$8.9 million).

Up 2.99% and further to go today.
wilbs

spread 8+%, further to go today?-geddoutahere you fool.

PCF Last week issues an RNS stating that they had been approached in the early stages of a bid. The current valuation is way to low and is about to rocket with the full bid any day. The company is moving back into profit and several broker/tipster recommended it as a buy prior to the bid news

On top of this there is a rumour of a second bidder in the wings going about

This will reach new highs this week, now is the time to get in before it heads toward 100p, current sp is 32p

IMHO

I got in last week at 30.25p.

ROFLMFAO!!!!!!!!!

Elixir confident of North Sea oil
June 20, 2005 - 6:29PM

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North Sea oil and gas explorer Elixir Petroleum Ltd is confident one of the five projects it plans to drill over the next two years could be a company maker.

Elixir will spend five to nine million pounds sterling drilling these wells, including the Marquis prospect which was spudded on Saturday.

Managing director Russell Langusch said there had been a discovery drought for Australian explorers and was hoping the next discovery would be Elixir's.

"We are drilling prospects that have a got a chance of success of about one in five on average. If we drill five wells, one of them will hopefully work," Mr Langusch said at an investor briefing.

The Marquis prospect was the sole asset of the company when it listed on the Australian Stock Exchange last July, raising $3.3 million.

Mr Langusch said there could be 100-150 million barrels of oil at Marquis.

"There is very little risk that it is not there," he said.

If the current testing renders positive results, Elixir could be a producer within six to 12 months.

Advertisement
AdvertisementIf the project proved to be bigger than originally thought and warranted the construction of a platform, the lead time to production would be extended to two to three years.

Marquis is located close to the Forties pipeline, controlled by BHP Billiton and currently running at about one third capacity.

Elixir had already been approached by BHP to consider using the pipeline but Mr Langusch said he hadn't ruled on any transportation methods, including the possibility of a floating processing plant.

He also said Elixir was not wedded to the idea of becoming a producer and would consider selling any project.

Since its ASX listing, Elixir has reduced its exploration risk by acquiring more prospects in the North Sea region.

It hoped to increase its holding again when the next round of licences were awarded by the British government, expected within the next few months.

It has applied for licences both on its own, and in conjunction with UK-based Granby Enterprises.

In line with its business model, Elixir will conduct early work on any licences it is awarded and farm them out.

Mr Langusch said Elixir would ideally hold between 15 and 30 per cent of any prospective project.

It has already farmed out its wholly owned Jaguar prospect with Norwegian company DNO.

The Jaguar prospect will be drilled next year as part of a bigger program by DNO.

http://www.smh.com.au/news/Business/Elixir-confident-of-North-Sea-oil/2005/06/20/1119250923995.html?oneclick=true

wilbs

Projects:

Elixir's exploration portfolio comprises of interests in 11 UK North Sea exploration blocks covering 7 licence areas. Six of the seven licence areas are in the Central North Sea and the remaining licence is in the Northern North Sea.

Two of the licences, covering blocks 21/6b and 211/22b, are 21st Round licences and the remaining five are 22nd Round licences.

Elixir's interest ranges from 15% in Block 21/6b to 100% in Block 211/22b.

The Marquis prospect in Block 21/6b is scheduled to be drilled in the middle of 2005. The well is fully funded, with Elixir paying 10% of the well cost. A rig has been contracted for the drilling operation.

Elixir has fully matured the Jaguar prospect in Block 211/22b using advanced seismic techniques, and has recently been marketing the prospect with the objective of introducing additional partner(s) to fully fund an exploration well.

Prospects identified on the 22nd Round licences are being matured to a drill-ready status in preparation for marketing to form partnerships for the drilling of exploration wells to test these prospects.




wilbs

Nice mark up before open. Goil not budged. An interesting day ahead.
The spread still killing it though.

wilbs

At sp of 19/22 now ,a buying opportunity if sp settles.

tOP UP DAY.

Got in yesterday. Good for a punt

sambal, whats the latest on ELP and its exploration in North Sea

has anyone got any news on ELP!!!! Something seems afloat especially with the performance of DNO 2day (volume traded) on the Norwegian stock exchange

Look back at SEY and my comments............

Hendrix Comes In Dry For Granby As Elixir Prepares To Spud Jaguar Wildcat
Drilling in the North Sea during the winter months is never much fun. Particularly when the well concerned comes in dry. This was the experience for Granby Oil & Gas, which last week announced its second North Sea well since its June 2005 flotation on AIM had failed to find commercial quantities of oil and gas.

The company will be hoping its planned multi-well drilling programme for North Sea over 2006 and 2007 will meet with better success. Granby can boast a management team that includes six former executives of one of the UKs most successful independent oil companies during the 1980s and 1990s, Enterprise Oil, and currently holds interests in 13 UK offshore licences in the Central North Sea. As work begins to understand and exploit this pipeline of future prospects, the disappointments of 2005 should recede from investor memory.

Exploration well 9/27a-4 was designed to probe the Hendrix prospect in the west of the North Seas Viking Graben. The well encountered sub-commercial oil shows, having been drilled by the Bredford Dolphin to a depth of 1,850 metres. It has, however, earned the AIM oil junior a 12.5 per cent stake in the block, which was awarded to operator Century Exploration in the 23rd licensing round. Granby agreed to pay 25 per cent of the well costs (reckoned to be around 1.26 million) in return for its equity stake.

The disappointment at Hendrix follows the duster drilled on the Marquis prospect in June, when the 21/6b-6 exploration well, again operated by Century Exploration, found only water-bearing sandstones. This well didnt cost Granby anything as its 15 per cent stake was carried by farm-in partners Century and Elixir Petroleum.

The latter company, which is listed on AIM and the Australian Stock Exchange, is now gearing up to drill its third hole in the North Sea. It will use the Bredford Dolphin rig once it completes plugging and abandonment operations on the Hendrix prospect. The rig will then pull anchors and, weather permitting, be towed north to Block 211/22b, where the Jaguar wildcat is expected to spud this week.

Elixir suffered two dry holes in 2005 - Marquis and Muness - but has high hopes for the Jaguar well. And, as managing director Russell Langusch points out, with Marquis and Muness coming in under budget the company has saved cash funds for later activity.
The Northern North Sea well is expected to take 45 days to reach its target depth of 3,950 metres. Its progress with be closely monitored by both Elixir followers and North Sea watchers: this is a well that could unlock the geology in this part of the aging oil province. Jaguar is an Upper Jurassic stratigraphic trap, a play which has received little attention on the UK side of the border but has been successfully exploited by the Norwegians. The analogous Borg field, for example, is now producing in the Snorre area of the Norwegian North Sea.

It is significant that Elixir's partner in the Jaguar prospect is Oslo-based DNO. DNO has agreed to meet 92.5 per cent of the Jaguar well costs to earn a 60 per cent stake in the prospect.

Jaguar is a possible 450 million barrel prospect and is thought to be analogous to the Buzzard field, which when discovered in 2001 was the largest find to be made in the North Sea for ten years. Elixir believes that very few junior oil and gas explorers, if any, will participate in such a high potential exploration project in the coming months - although this is one for investors with an appetite for higher risk wildcatting.

aldwicck, how can we get info. on the progress of Jaguar..... before information is formally released on the market.. so the question is, wheter its possible to gain closer knowledge of progress on jaguar b4 a rns is released... Surely it must be possible to those that are willing to go the extra mile rather than to sit and wait for news and if it turns sour then lose alot of dollars!.... your views welcomed!

ELP INFO::::::::::::::::::::
Translated excerpts from an article in the Norwegian financial paper Finansavisen 17 Janaury 2006:

.......DNO [www.dno.no] is busy preparing for the drilling the exciting Jaguar project. According to DNO the field could contain between 54 and 280 million barrels of oil with the most probable estimate at 138m barrels. This would mean 83m barrels for DNO, or a reserve increase of 80%.

- Jaguar is our next big project and it starts in the very near future, the CEO of DNO Mr. Helge Eide says to Finansavisen........


Now take a look at this:

If 83 million barrels is an 80% increase in DNO's reserves, their current reserves must be approximately 100m barrels. The market cap. of DNO is today 1billon, or 10 per barrel of oil reserves. However, as well as OWNING reserves DNO is also pumping and selling oil. Therefore lets allow for this and value their oil reserves in isolation to 7 per barrel.

DNO (and Rocksource ASA) own 60% og Jaguar and Eilixir owns 40%. If they find 138m barrels of oil Elixirs 40% will equate to 55m barrels of oil reserves. Multiplied by 7 per barrel this gives a total value of 385m to Elixir. Eilxirs market value today is 26m. Therefore if DNOs likely scenario (if they strike oil) happens Elixirs share can rise to 6.