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 not adversely affected by hurricanes
Slight delays to Well 3 on the Pompano Project were also reported, due to the shut-in of the Hercules jack-up rig which has been contracted to drill the well. However the rig is now preparing for drilling. The well is expected to take 25 days to complete, and is targeting an updip fault block immediately adjacent to Well 2.
Elixir's Managing Director, Andrew Ross summarised:
"Other than a short shut-in period during the passage of Hurricane Ike, we are pleased to advise that the storm has not adversely affected our projects in the Gulf of Mexico. We look forward to resumption of full production in the near future.
We are eagerly anticipating the commencement of drilling operations in the coming days for Well #3 at the Pompano Project, where we hope to achieve a similar result to that of our successful Well #2 and a further lift in production rates from the field."
