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 to cancel secondary listing on AIM
Elixir Petroleum Ltd said it is to cancel its secondary listing on AIM with effect from the end of March 2009 as the compliance burden coupled with the costs of the listing outweigh its benefits.
It also cited its Australian focused shareholder base and the relatively low volume of trading in shares on AIM as reasons for the decision.
Elixir will continue to maintain its primary listing on the Australian Securities Exchange. It has also established a facility with UK based broker, WH Ireland Group PLC and its related Australian subsidiary, D.J. Carmichael & Co, which will allow shareholders on the UK register who do not have an account with a broker, to trade their shares on the ASX with relative ease. As a result, shareholders currently on the UK register should not be materially prejudiced as a result of the delisting, Elixir added.
