Elixir Petroleum

AIM EPIC : ELP

(ASX EPIC : EXR)

Web Site : 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 London AIM market
Elixir believes that the United Kingdom Continental Shelf region of the North Sea (UKCS) remains highly prospective for oil and gas exploration. The area also benefits from low political risk, relatively attractive fiscal conditions and established oil and gas infrastructure. Changes to the licensing regime in 2003 provided improved access for junior explorers. They created the opportunity for Elixir to rapidly build a portfolio with exposure to meaningful and prospective targets in the region.
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 has interests in 6 licences being awarded in the 23rd UK Licensing Round. This addition takes Elixir's portfolio to interests in 13 UK exploration licences covering 18 North Sea blocks.
Elixirs primary objective is to establish a successful North Sea focused oil and gas exploration and production business. This will be achieved through advancing exploration of prospects on its existing Licences, attracting farm-in partners for drilling wells on these prospects, progressing any discoveries to commercial production and aggressively pursuing opportunities to acquire further interests in prospective North Sea acreage.
The company is targeting participation in a minimum of five exploration wells over the two years from May 2005. With the best five prospects having an average success case reserves potential greater than 20 million barrels of oil net to Elixir, a discovery would have a material benefit to the company.
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** As with all O+G exploration, there is considerable risk involved, so not for widows or orphans !!
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Oz chart for Elixir (ASX:EXR)

Trading Halt in Oz, so some news coming :

30 May, 2006
ELIXIR PETROLEUM LIMITED
("Elixir" or "the Company")
AUSTRALIAN STOCK EXCHANGE TRADING HALT

Elixir Petroleum Limited (ASX: EXR, AIM: ELP) wishes to announce that a trading
halt has been imposed on trading in the company's shares on the Australian
Stock Exchange today pending the release of an announcement. Further
information will be provided by the Company in due course.

For further information please contact:
Elixir Petroleum Limited

Russell Langusch, Managing Director
+44 207 484 5623 (UK office)
+44 7840 523 771 (UK mobile)
+61 411 725 858 (Australia cell)
E-mail: rlangusch@elixirpetroleum.com

What kind of news needing it to halt trading???

either receivership or significant change of status

hlyeo, anything reasonably major, like a new farm out agreement, drill results, news, anything at all really, the ASX calls halts very often ahead of news, not like the AIM and suspensions.

I would guess its a new farm out agreement.............

For what it's worth, a number of trades went through first thing this morning just prior to the suspension (of course!) at 19.50

31st May, 2006
ELIXIR PETROLEUM LIMITED
("Elixir" or "the Company")

BLOCK 15/13B FARMOUT

Elixir Petroleum Limited (ticker symbols - ASX: EXR, AIM: ELP) is pleased to
announce that it has concluded a Farm-out Agreement with Nexen Petroleum U.K. Limited ("Nexen"), a wholly owned subsidiary of Nexen Inc., and Heads of Agreement with Gas Plus Italiana S.p.A. ("Gas Plus") to farm-out part of its interest in UKCS Block 15/13b.

Under these agreements, and the recently announced agreement with Albion Petroleum Limited ("Albion"), Elixir will retain a 13.125% interest in the block and its share of the costs of an exploration well will be fully funded by Nexen, Gas Plus, and Albion.

Nexen will become operator of the licence and earn a 50% interest in the block, and Albion and Gas Plus will both earn 6.25% interests. Granby Oil & Gas plc ("Granby"), through two group companies, is also farming out part of its interest on the same terms as Elixir and will retain a 24.375% interest.

The exploration well, to be operated by Nexen, will be drilled on the Guinea
prospect and is planned for the last quarter of 2006. Nexen has a suitable rig under contract and has already conducted the site survey. The well will be drilled to a depth of approximately 1,600 metres true vertical depth subsea.

The Guinea prospect is a robust four-way dip closed Palaeocene structure which lies on trend with fields such as Balmoral and Dumbarton. The block is located some 20 kilometres north east of the Piper oil field in a water depth of approximately 150 metres. In 2005 a discovery well, operated by Nexen, was drilled on a Palaeocene prospect named Yeoman in Block 15/18b to the south of Block 15/13b.

Assignment of the licence interests and transfer of operatorship to Nexen are subject to the approval of the Secretary of State for Trade & Industry.
Assignment of the licence interests to Albion and Gas Plus are subject to the execution of fully termed farm-in agreements, execution of the Joint Operating Agreement and approval of the Secretary of State for Trade & Industry.

Russell Langusch, Elixir's Managing Director, said, :

"We are delighted to have finalised the farm-out arrangements for this block, forming a partnership to drill an exploration well in 2006 with Elixir
retaining a material interest without cost exposure. It is particularly
encouraging that the quality of the Guinea prospect has attracted a large
independent company with successful exploration experience in the area. We look forward to working with our new partners and providing more exploration activity for our shareholders."

There is a 19th July research report update by Objective Capital, free to read, just need to register (again free). Link below :


http://www.objectivecapital.co.uk/objectiveresearch.asp?



Elixir Petroleum (ELP.L) - expanding horizons & the potential for M&A activity
ELP.L
Update by Sam Kiri , Jul 19, 2006

27 September, 2006

ANNUAL FINANCIAL REPORT

Elixir Petroleum Limited (ticker symbols - ASX: EXR, AIM: ELP) ("Elixir" or
"the Company") announced today its financial results for the 12 month period to
30 June, 2006.

For the period the Company recorded a net loss of A$7.0 million (2.8 million)
after expensing unsuccessful North Sea exploration costs totalling A$5.1
million (2.0 million).

The majority of the A$5.1 million writeoff comprised costs associated with the
Company's unsuccessful Muness (A$1.1 million) and Jaguar (A$3.7 million)
exploration wells.

The full year 2006 result compares with a loss of A$3.7 million (1.6 mllion)
posted in the previous 2004-05 year.

The full financial results are set out in the directors' report and
accompanying financial statements which can be accessed via the Company's
website www.elixirpetroleum.com

Highlights of the past year include the following:

Operations

Consolidated UKCS position securing six licences in the 23rd Seaward Licensing
Round

Farmed-out Guinea prospect (Block 15/13b) for a 13.125% fully-carried interest
in upcoming well

Applications submitted with experienced North Sea partners in current 24th
Licensing Round.

Corporate & Financial

Replaced Jaguar well costs with A$2.6 million (1.0 million) capital raising in
May 2006

Cash funds of A$11.1 million (4.4 million) on hand at year-end.

The Company has established a highly prospective portfolio of North Sea
exploration interests. With its strategy of farming-out licence interests in
return for a total or near-total carry through the subsequent exploration
wells, Elixir has sufficient funds to conduct an active drilling program for
another 18-24 months.

Exploration opportunities already identified within Elixir's current licences
combined with numerous new opportunities provide the Company with an excellent platform for growth. The Company aims to transform itself into a significantly larger group through exploration success and acquisitions.

For further information please contact:

Elixir Petroleum Limited

Russell Langusch, Managing Director +44 207 484 5623 (UK office)

+44 7840 523 771 (UK mobile)

+61 411 725 858 (Australia cell)

E-mail: rlangusch@elixirpetroleum.com

Nice to see some fizz back in ELP ahead of their next North Sea drill :)

A few 100K buys today and much increased volume in Oz, will have to watch volumes as we go forward, as ELP could well be a takeover target.


http://www.thebusinessonline.com/Document.aspx?id=993DA3BF-7A31-43CE-AE3F-F3478508418A


"..............Targets include Elixir Petroleum, Grove Energy, Nido, and even the struggling Wham Energy."

.......thought I was the only one that stuck with this one,it would be nice to claw some back!

sell into the bounce

There's confidence cynic !! ;)

Anyway, moving again.

sorry but don't like the company and its greedy management even less

Still a long way down on this one......it was always a high risk punt.

not for the directors ..... they continue to pay themselves very well indeed

Cynic....are you in this one,or have you been?

was and made money both as bull and bear

......still in?

not likely!