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)

12.83p to buy.

A bargain for a speculative punt, with money you can afford to lose half off on bad news, but also would not mind getting a few multiples of it back on good news, IMO.

PP .... EXR is a total crap company with rubbish management who only look after themselves ..... suggest you have a look at VOG where i am just posting again

cynic,who the f. are EXR?

EXR is the Oz listing epic of ELP.

cynic, its a punt as if the present well hits oil, then it will pay back big time.......who cares about the management, the punt is on the drill only.

as i have said, there are better E&P gambles than this

There is on average, but this drill should find oil, commercial or not is another question, but this is probably their least risky drill so far, and therefore, worth a punt imo purely on the results of this drill.

am sure i could find a 3-legged pony for you to back with better odds

LOL :)

sorry PP ..... Cassandra looks to have been proven right again

Indeed, never mind, always worth a speculative punt, I'll have another on the Leopard drill late this year or early next.

New article, click HERE

SP a tad jaded here.