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Elixir Energy Ltd

Elixir Petroleum appoints Richard Cottee as chairman, begins development of Mongolian gas project

Elixir Petroleum Ltd (ASX:EXR) chief executive officer Neil Young speaks to Proactive Investors about the gas explorer's recent appointment of Richard Cottee as non-executive chairman.
 
Young says Cottee is considered a "godfather" of coal seam gas in Queensland, leading QGC from a 20 million market-cap company with a share price of 20 cents through to its acquisition by British Gas for nearly $6 billion and 6$ a share.
 
He notes this has "huge resonance with our own position of possessing an early-stage but highly-prospective and well-located coal seam gas block just north of China in Mongolia."
 
The company has started early-stage exploration activities in Mongolia, including government approvals, and expects Cottee's background and skills to assist in delivering an asset that gives the most value to shareholders.

Quick facts: Elixir Energy Ltd

Price: $0.05

Market: ASX
Market Cap: $24.9 m
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