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)

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!

The Guinea prospect should be due for spudding sometime soon, and the fact that Nexen are interested and operators adds something to the positive side of prospects. Its a high impact drill with considerable upside for ELP on success, so therefore while high risk, it offers high potential reward.

Worth going through the recent ELP (Oz=EXR) Presentation :

http://www.elixirpetroleum.com/assets/29/EXR%20Company%20Update_Sep06.pdf

quality of this company and especially its management is no better now than it was when drilling for dust in north sea a few months back

GUINEA WELL TIMING

The Company recently indicated in its September Quarterly Report lodged with
ASX on 31 October 2006 that the Guinea Well in Block 15/13b was scheduled to
spud in mid November 2006. Due to a combination of several circumstances,
including adverse weather conditions in the north-sea, the Well is now expected
to spud in the first half of December 2006.

And the news is only reported now???? ...... Hmm! ...... My post 91 says it all

9th Jan 2007 Update :

http://www.objectivecapital.co.uk/ocreports/oc-ukhnw-full-objective-elixir-jan07.pdf


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Previous July 06 Update :

http://www.objectivecapital.co.uk/ocreports/oc-ukhnw-full-objective-elixir-july06.pdf

http://www.investegate.co.uk/Article.aspx?id=20070220070000P1A46

20 February, 2007
ELIXIR PETROLEUM LIMITED
("Elixir" or "the Company")

FARMOUT OF BLOCK 211/18b LEOPARD PROSPECT TO RWE DEA UK

Elixir Petroleum Limited (ticker symbols - ASX: EXR, AIM: ELP) is pleased to
announce that it has accepted an offer from RWE Dea UK SNS Limited (RWE) to farmin to the Company's northern North Sea Block 211/18b.

Block 211/18b (Licence P1381) is a traditional licence awarded in the 23rd UKCS Licensing Round in December 2005. The current interest holders in P1381 are Elixir (80%) and its joint venture partner, Sosina Exploration Ltd (20%).

Under the terms of the farmin offer, RWE will secure a 30% interest in Block 211/18b by contributing on a promoted basis to the cost of drilling an
exploration well on the Leopard prospect. The interests of Elixir and Sosina
will decrease to 56% and 14% respectively as a result of the RWE farmin.

The offer is conditional upon the execution of a formal farmin agreement by 30 April 2007 and the consent of the Secretary of State for Trade and Industry to the licence interest assignment.

The P1381 joint venture will be actively seeking to attract another farminee such that Elixir and Sosina's cost exposures to the planned Leopard well are largely covered.

Leopard is a large Upper Jurassic stratigraphic prospect within Block 211/18b which, based on Elixir's mapping, could contain prospective hydrocarbon resources up to several hundred million barrels of oil. The prospect has been mapped from modern 3D seismic. In addition it has been derisked by a long offset seismic line linking Leopard with a producing analog, the Borg oil field, across the median line in Norway.

Elixir's Managing Director, Russell Langusch, commented: "We are delighted to be joined by a farmin partner of the calibre of RWE to drill such a high
potential prospect as Leopard. We are confident of attracting another farminee to enable us to proceed with detailed planning of the exploration well."