www.elixirpetroleum.com
Elixir Petroleum is an international exploration and production company listed on the Australian Stock Exchange (ASX:EXR). Elixir holds interests in producing gas and condensate fields located in the Gulf of Mexico and has extensive interests in exploration and appraisal licences in the UK North Sea. 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 Petroleum offered new North Sea oil production license
International oil and gas exploration and production company Elixir Petroleum (ASX:EXR) has been provisionally awarded the Southern part of Block 30/25, following the announcement of the results of the UKCS 26th Seaward Licensing Round.
Block 30/25 is located in the Eastern margin of the Central UK North Sea and is adjacent to the now abandoned Ardmore field (formerly named Argyll), which was the first offshore oil production in the UK producing almost 80 million barrels of oil.
Block 30/25 has been offered by way of a promote licence to Elixir as operator and 100% interest holder.
Andrew Ross, managing director, said “we are very pleased by the offer of this licence which complements and builds on our position in the UK North Sea."
"The Block contains several prospects which have been mapped on existing 2D seismic data. If successful, these prospects could have the potential to create significant
shareholder value. We look forward to providing further details on the prospects to the market in the coming weeks.”
The award of Block 30/25 is subject to the finalisation of usual regulatory approvals.
EXR has a market capitalisation of 15.12 million and had 4.12 million cash at the end of the September quarter.
