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EXR, ELIXIR PETROLEUM LIMITED
crystal
post Posted: Jan 14 2011, 07:56 AM
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In Reply To: Commander C's post @ Jan 6 2011, 05:49 PM

hi cc

mmmmmmmmm , 18 cents now , missed it unfortunately mad.gif

mick

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Commander C
post Posted: Jan 6 2011, 05:49 PM
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In Reply To: crystal's post @ Jan 5 2011, 08:55 AM

cleared 10c alright Mick!

 
crystal
post Posted: Jan 5 2011, 08:55 AM
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In Reply To: veeone's post @ May 13 2010, 03:09 PM

cleared last highs on increased volume ,now needs to clear 10 cents

cheers

mick

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veeone
post Posted: May 13 2010, 03:09 PM
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Elixir Petroleum Playing Safe In An Uncertain World
Unlike many of its small-cap peers plying their trade in more exotic locations around the world, Aussie junior Elixir Petroleum seems happy to play it safe. And in the current climate who could possibly blame anyone for that? The company currently operates in territories with little in the way of political or security risk, on both sides of the Atlantic.
This brings it production and development in the shallow waters of the US Gulf of Mexico plus exploration and appraisal in the UK North Sea. For a more continental flavour, it also now has onshore operations in France, where it extended its footprint this year taking on 100 per cent of the Moselle permit. It completed this acquisition on April 15, following its takeover of East Paris Petroleum. On April 30, Elixir then released its quarterly update announcing receipts from production totalling US$835,000 for the March 2010 quarter, with cash in hand of US$6.4 million, and zero debt. There are also expectations of higher production from new workover wells at High Island, 60 km offshore Texas, to be undertaken in mid-2010.
Share prices have bounced up and down through the year but Elixir has always retained a following, which is understandable given that it is debt free and has some decent – and rising – production on its books. These are all things that would be the envy of many a rival E&P hopeful and suggest that Elixir's careful approach is working well.
Indeed, caution was in the air last March when the company abandoned plans for a secondary listing on London's Alternative Investment Market. It cited the increased regulatory burden and higher costs of maintaining a secondary listing as reasons why it had changed its mind. The company maintains its primary listing on the Australian Securities Market.
Yet this eminently sensible approach might also appear to lack something for the more aggressive investor seeking a bit more upside potential. That does not mean diving straight into West Africa to make a fast buck. Elixir has already seen this region first hand after a previous disappointing foray into Sierra Leone.
Perhaps in Moselle, which contains a broad mix of opportunities from conventional oil and gas to unconventional gas (tight sand and shale gas) and coal bed methane, it has found an answer. Initial work is now underway on the permit with a goal of firming up some reserves figures.
The Elixir team are keen to highlight growing interest in shale gas generally among the majors during the past year, not just in the US, but now onshore Europe, where there has been something of a land grab by big investors.
This gives Elixir something special in that Moselle is the largest single onshore block in France covering an area of 5,360 sq km across the East Paris Basin. This still isn't frontier West Africa but this is a territory that could be highly prized, especially as others start pouring money into unconventional gas projects in Europe.
It is also a mature region with easy development potential in the sense of its proximity to markets and infrastructure.Elixir remains on the prowl for new things, however, announcing at its AGM last November that North Africa is also in focus as a potential target area, possibly revealing the company's more adventurous inward spirit.
Although the AIM listing did not go ahead as planned, this would certainly have helped raise Elixir's more exposure in some of the areas in which it is operating. But holding back at a time when markets were all over the place now looks justified.
The common sense approach means Elixir remains firmly in control of its own destiny, whatever its future holds. Some might call it playing it safe, others would say it is building a long-term, sustainable and profitable business. Oilbarrel.com

 
Brierley
post Posted: Oct 22 2009, 11:01 AM
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In Reply To: dreamer's post @ Oct 22 2009, 10:48 AM

QUOTE
What's the market cap and cash position?


188988471 shares x 5c = $9.45mil MC

I think cash will be down to $7mil at end of Sept qtr.
At current gas prices they slowly burn cash each qtr.
Admin costs run at av $900k per qtr /$3.6mil per annum.

 
dreamer
post Posted: Oct 22 2009, 10:48 AM
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In Reply To: Brierley's post @ Oct 22 2009, 10:44 AM

What's the market cap and cash position?

 


Brierley
post Posted: Oct 22 2009, 10:44 AM
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In Reply To: garryg's post @ Oct 20 2009, 10:03 PM

Had another look at EXR just recently and traded it from low to high 4's
Not too enthusiastic about it above 5cps ahead of the quarterly.
Cashburn and production not too hard to estimate and its not the best imo.
That leaves news on UKCS, I imagine something will get farmed out eventually, timing remains the question.

 
garryg
post Posted: Oct 20 2009, 10:03 PM
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It has been a while but I have taken a small position in EXR. Cash is king in this market and approx. 4c in cash is a good starting point. This helps give some foundation to back the more riskier analysis:

Scenarios:

If EXR announce that Leopard will drill before Christmas, the SP would hit lift-off very quickly IMHO based on recent events with MMR & MOG

More likely, an extension is granted for Leopard (I would imagine this would indicate that EXR have some serious negotiations in place) and it is still good news for the SP although nowhere near the potential impact of immediate drilling.

As a back-up, EXR still have Mulle in the background. Pompano?

It is a wildcard but what happens if EXR decide to enter a JV soon in a new project rather than simply focus on farming out what they have at present? Clearly it has been difficult to get suitable JV farmins - why not look to farm in to other company leases elsewhere? This could see EXR suddenly have an unexpected drilling. I know it is hypothetical but I do wonder if management might be thinking along these lines. They would not like the SP sitting where it is and there is only one way to move it quickly - start drilling!

Can't see a lot of negatives here as a medium term hold.


Holding EXR at 6c and buying on weakness

 
andy20020
post Posted: Oct 18 2009, 09:01 AM
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Has that ... news about to be substantial ... look about the chart here.

Let's hope the chart is right.

Regards

 
uraniumbull
post Posted: Jul 23 2009, 01:10 PM
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In Reply To: Commander C's post @ Jun 29 2009, 09:38 PM

Risk probably is about 90% chance of success.
Question is more about how successful, how much will the well produce and is it worth building the infrastructure. How long will it take to pay off everything, does it have the money to develop the resource?
I like it, but we will have to wait



--------------------
Life is like a toilet roll.
The closer you get to the end, the faster it goes.
 
 


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