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 soaring share price prompts ASX 'please explain'
Junior resource stocks are sparking massive interest in the first few trading days of 2011, with Elixir Petroleum (ASX: EXR) shares spiking to $0.135 in intra-day trading today, up 57% from $0.086 on Friday 31 December, prompting an ASX price query.
Elixir responded to the ASX stating it is not aware of any material information that has not been released to the market which may have sparked the sudden investor interest in the stock.
In November 2010 Elixir was offered a new North Sea licence, provisionally being awarded the Southern part of Block 30/25.
Block 30/25 is located in the Eastern margin of the central UK North Sea, and is adjacent to the now abandoned Ardmore field, which was the first offshore oil production in the UK producing almost 80 million barrels of oil.
Block 30/25 was offered by way of a promote licence to Elixir as operator and 100% interest holder.
Elixir shares have subsequently eased slightly in afternoon trade, last changing hands at $0.125.
