Proactive investors

Elixir Petroleum is an Australian registered company which has a clear aim of growing shareholder value through evolution into a mid-tier oil & gas exploration and production (E&P) company. Its initial focus has been on high impact North Sea exploration, but recently expanded into the Gulf of Mexico through the a merger with Gawler Resources. The group is listed on the Australian Stock Exchange (ASX) and the London AIM market.

• 12/09/2008 Elixir Petroleum – Cash flow and upside
• 16/01/2008 Elixir Petroleum: Steady post merger progress

• 12/12/2008 Elixir Petroleum takes control of Sierra Leone offshore block
• 01/10/2008 Elixir Petroleum reports spudding of Well 3 at Pompano Project
• 24/09/2008 Elixir Petroleum not adversely affected by hurricanes
• 23/06/2008 Elixir completes Block SL-4 seismic acquisition
• 29/05/2008 Elixir Petroleum to raise A$14.5 million

Elixir Petroleum is an international exploration and production company listed on the Australian Stock Exchange (ASX:EXR) and the London AIM market (AIM:ELP).

Elixir holds interests in producing gas and condensate fields located in the Gulf of Mexico, has extensive interests in exploration and appraisal licences in the UK North Sea and is operator of a highly prospective block offshore Sierra Leone, West Africa.

The UK North Sea has been targeted by Elixir as a core exploration area based on the view that the UK Continental Shelf remains highly prospective for oil and gas. The area benefits from low political risk, attractive fiscal conditions and established oil and gas infrastructure. In addition, changes to the UK licensing regime in 2003 provided improved access for junior explorers and created the opportunity for Elixir to rapidly build an exciting portfolio with exposure to meaningful exploration and appraisal targets in the region.

Elixir has recently acquired interests in two producing fields in the Gulf of Mexico which provide the group with cashflow from sales of gas and condensate. The company is focused on increasing its presence on the shallow water shelf of the Gulf of Mexico and continues to examine new projects in which to participate. Such projects typically display discovered reserves, nearby infrastructure and short cycle times to first production and cashflow.

Elixir has expanded its exploration activities to West Africa by acquiring an interest in, and assuming operatorship of, highly prospective Block SL-4 offshore Sierra Leone. Block SL-4 is over 4,400 km2 in areal extent and sits in water depths ranging from 100m to over 3,000m, which covers the shallow shelf, slope and deep water Sierra Leone Basin floor. A 1,222 km2 3D seismic programme has been completed and it is anticipated that world class, drill ready targets will be available to farm out in early 2009.

Elixir's Strategy

Elixir is steadily growing its business and diversifying risk by focusing on development and production opportunities located initially in the shallow waters of the Gulf of Mexico and high impact exploration and appraisal opportunities both in the UK North Sea and offshore Sierra Leone.

Elixir will achieve growth in shareholder value by:

Rapidly identifying and securing on a low cost basis exploration prospects globally.
Utilising world leading technologies and in-house skills and experience to evaluate and mature exploration prospects within its portfolio to drill-ready status.
Farming out exploration prospects to industry to drill, whilst achieving an optimal balance between risk and reward for its shareholders.
Efficiently progressing all discoveries to commercial production.
Aggressively identifying and securing interests in development and production projects so as to achieve diversification and balance to exploration activities.
Actively participating as a joint venture partner in development projects to secure at lowest cost and on a timely basis additions to reserves, production and cashflow for the Group.
Developing and maintaining key industry relationships to allow the Company to maximise efficiency, control costs and access a broad range of oil and gas industry expertise.
Applying a combination of technical excellence, commercial innovation, speed and flexibility to mature the Company's portfolio and access new opportunities.

DIRECTORS & EXECUTIVES

FOR FURTHER DETAILS ON ELIXIR'S DIRECTORS AND EXECUTIVES VISIT:

http://www.elixirpetroleum.com/board.asp

Jon Stewart
Chairman

Andrew Ross
Managing Director

Iain Knott
Executive Director - Exploration

Trevor Benson
Non-Executive Director

John Robertson
Non-Executive Director

No info available.

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