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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Elixir Pet. | ELP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 1.625 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.625 | 1.625 |
| Top Posts |
|---|
Posted at 09/3/2012 14:02 by norman115 Hermana,With reference to post 3860, which broker do you use for dealing in overseas stocks? The only reason why I ask is because I use TD Direct and I am able to take up the full allocation in the fund raising through them. I have a portfolio of ASX stocks and participating in rights issues and fund raisings has never been a problem. Nice to see some appreciation in the share price from the recent lows. It is good to have NSE on board as a new investor. All the best Norman |
Posted at 16/9/2011 13:43 by pomp circumstance Investor presentation |
Posted at 27/9/2010 09:27 by inkunzi some North Sea info ....The North Sea has long been associated with big oil, but with ever increasing demand and rising oil prices it has become the new playground of minnows hungry for a discovery. AIM-listed Nautical Petroleum (NPE) became the latest success story this week, when it reported striking further black gold at the Kraken oil field in Central North Sea. The 9/02b-4Z sidetrack well, drilled to the west of its original well, uncovered two oil-bearing zones containing net oil pay of 42 feet and 35 feet respectively. Analysts at Canaccord said: "This is clearly a very positive result for Nautical and serves to further strengthen the Kraken development story. Using Nautical's pre-drill estimate of 114 million barrels (mmbbl), we estimate the Kraken exploration success to be worth an incremental 100p per share on a risked basis." At the same time, Ithaca Energy (IAE) got the go-ahead from the UK Department for Energy and Climate Change for its Athena oil field in the North Sea. AIM-listed Ithaca described the green light as a very significant step towards securing first production from the field planned for the third quarter of 2011 at 22,000 barrels of oil per day. Rising prices driving turnaround It is no coincidence that this new-found zeal for the North Sea has come amid rising oil prices. Industry body Oil & Gas UK said that falling investment levels had marred the region and reported that in 2009 the number of development and exploration wells drilled fell by 22% and 40% respectively. Analysts attribute the falling levels to the sharp downturn in oil prices. While a barrel of black gold fetched a record high of $157 in the summer of 2008, it was languishing around the low $40s by the start of 2009. Today, however, prices have stabilised around the $70-$75 mark, providing confidence for companies to invest. A recent report by consultancy Deloitte has revealed that exploration in British waters is booming, and said drilling activity shot up 133% in the second quarter. A total of 28 exploration and appraisal wells were spudded in the UK sector between April and June, compared with just 12 wells during the first quarter of 2010. The Southern North Sea witnessed the highest level of drilling activity, accounting for almost 38% of all exploration and appraisal wells spudded. Graham Hollis, energy partner at Deloitte in Aberdeen, explains: "The more stable oil price, improving credit conditions and the need for organisations to consider expansionary plans and capitalise on growth, post-recession, have created improved market conditions within the industry." Oil and gas analyst James Hosie at RBC agrees with the sentiment. "Last year drilling activity was right down in line with the plummeting oil price. This year the incentive of higher oil prices has caused an upturn, however I would be surprised if we see the same booms of 2007 and 2008." But while the highs of 2007 and 2008 may be over as the supermajors scramble to uncover new plays, the North Sea remains lucrative hunting ground for the smaller players. Business is booming In June, the UK government reported receiving a record number of applications for the 356 new UK licences. Oil & Gas UK estimates that Britain has around 24 billion barrels of oil left to extract. Although that figure is dwarfed by those of Saudi Arabia and even virgin province Greenland which is believed to house up to 50 billion barrels, it is estimated that it could take some 20 years to extract the remaining oil under the UK continental shelf, with much of it forecast to be in relatively small reservoirs. While these may not appeal to the heavyweight players, they are growing increasingly attractive to minnows and could generate up to an extra £2 billion in revenue for the Exchequer. AIM-listed EnCore Oil (EO-) is a prime example. It has seen its share repeatedly soar as investors cheered news of discoveries in UK waters. Last month, its shares jumped 19% on the day it announced an oil discovery at its Cladhan appraisal well off the coast of the Shetland Islands and said the findings were at the "upper end of our expectations". It was the latest success story for EnCore, which as part of a consortium, triumphed with the Catcher discovery earlier this year. The Catcher find was deemed so significant that it drew comparisons with the last big prospect in the North Sea, Buzzard field, which was discovered in 2001. RBC's Hosie adds: "It has become the domain of the smaller companies because a discovery of several million barrels is a meaningful and profitable result for them. There is still money to be made in the North Sea, but the average sums are better suited to smaller cap companies rather than the majors, although there is always the odd exception." Safety concerns However, unsurprisingly enough, questions over the safety of North Sea operations were raised in the wake of the devastating Gulf of Mexico oil spill and have prompted the Energy and Climate Change committee to investigate whether laws surrounding deep sea drilling need to be tightened. Despite this, in a recent grilling by a parliamentary committee, outgoing chief executive of shamed oil major BP (BP-) Tony Hayward said the make-up of the North Sea continental shelf means that oilfields do not suffer from the same high temperatures or pressures as those in the Gulf of Mexico. Hayward also hinted that the tight regulatory regime following the fatal 1988 Piper Alpha Rig fire made a spill less likely. Analysts agree that the risks associated with drilling have steadily decreased; some 25 years ago the chances of success were one in 10 or 12 wells, while today better understanding of the area has slashed that to one in four or five. Hollis adds: "The latest drilling figures prove there is still tremendous investment potential within the North Sea. This potential should provide further confidence for the sector and will hopefully serve as a catalyst for greater levels of finance to be made available to the companies looking to invest in the North Sea in the near future." While hunger for oil prevails, the oil explorers' appetite shows no signs of letting up. |
Posted at 12/5/2010 18:10 by drewz May 11, 2010Elixir 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.Elixi 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. www.Oilbarrel.com |
Posted at 04/3/2009 18:40 by wakeland It may prove a blessing in disguise for the share price, AIM seems virtually without regulation, many of the directors of AIM listed companies are fraudsters and are allowed to get away with it on AIM with impunity. It is an exchange in terminal decline because investors are sick of being fleeced thereby depressing the share price..well here's hoping! |
Posted at 04/3/2009 08:54 by soulsauce From the horses mouth as it were. I see another company is de-listing from Aim today. May be the people who run the Aim market should have heeded the warnings as may be this trickle might turn in to a rush:-Dear Mr xxxxxxxx, Thank you for your email. The decision to de-list from the AIM was not a matter taken lightly by the Board of Elixir Petroleum Ltd and had been under discussion by the Board for about 12 months. The cost to Elixir of maintaining the AIM listing over the past three years has represented a significant part of our total general and administrative costs for the Group per year. Elixir has been dual listed on the AIM since May 2005. The company raised funds on admission, but since that time has not raised further funds from the AIM (the three later raisings were from ASX based investors). The fundraising undertaken in May last year was in fact designed specifically to raise capital from Australia and the UK and coincided with the appointment of new brokers in London. Despite presenting to a large number of potential UK investors, there was no UK support for the issue, the result of which was that we fell somewhat short of our fundraising target. The 26% decline in the closing price on AIM observed overnight was on the back of £7,500 of shares being traded. This is relative to the company's market capitalisation prior to yesterday's close of £3.8m. Yet on the ASX today at the time of writing, there has been no movement in Elixir's share price. This highlights the issue we face with the lack of liquidity on the AIM, and is one of the reasons we believe it is in the best interests of the Company to maintain the single listing on the ASX. We have been patient in reviewing the performance of the AIM market and see no improvement in the foreseeable future. You might be aware that we are one of a number of companies taking this action. We do appreciate the loyalty you have displayed to the company and recognise that the delisting will create some issues with regard to your shareholding, but I do hope that you will continue to support the company and we look forward to having you as a shareholder on the ASX. Kind regards, Andrew Andrew Ross Managing Director Elixir Petroleum Limited |
Posted at 03/3/2009 08:27 by soulsauce The annoying thing is that companies like this were all too happy to join Aim in the good times for some easy money.I can understand the rationale for doing it but it is p*ssing up the backs of the Uk investors that have backed them with little to show for it except a swift kick to the cobblers. |
Posted at 10/6/2008 10:01 by coincall hermana,we are obviously NOT 1 Institutional and other Sophisticated Investors 2 The Rights Issue offer is being made only to eligible shareholders with registered addresses in Australia or New Zealand. The swines! |
Posted at 29/5/2008 09:15 by pugugly UK (AIM) Investors stuffed again - "Please note that the Entitlements Issue is only being offered to shareholders who are residents of either Australia or New Zealand, and therefore is not available for acceptance by shareholders who reside outside of Australia or New Zealand." This company should not be allowed on AIM if they are going to treat UK shareholders this way. I suggest all ahareholders ring Blue Oar and the FSA and raise hell. |
Posted at 29/5/2008 07:12 by captainfatcat Elixir Petroleum Limited('Elixir' or the 'Company': Ticker (ELP)) 29 May 2008 CAPITAL RAISING AND APPOINTMENT OF NEW NOMINATED ADVISER AND BROKER Elixir Petroleum Limited ('Company' or 'Elixir') the international exploration and production company (ASX:EXR, AIM:ELP) is pleased to announce a capital raising to consist of a placement and a fully underwritten entitlements issue of up to 53.64 million shares to raise up to A$14.5 million at a price of $0.27 per share. The capital raising consists of: A placement of a first tranche of 24.15 million shares at $0.27 per share to professional and sophisticated investors to raise approximately $6.52 million before issue costs ('Placement'); An additional placement of a further tranche of 9.35 million shares, subject to shareholder approval, at $0.27 per share to professional and sophisticated investors to raise approximately $2.52 million before issue costs ('Additional Placement'); and A fully underwritten non-renounceable entitlements issue at $0.27 per share on the basis of one (1) share for every eight (8) shares held to raise approximately A$5.44 million before issue costs ('Entitlements Issue'). The proceeds of the capital raising will be used to: Fund additional development wells under an accelerated drilling programme at the Company's Pompano Gas Project in the Gulf of Mexico; Fund the Company's 35% working interest share of the 2008 work programme in respect of Block SL-4 offshore Sierra Leone; Provide greater flexibility to the Company in its participation in appraisal and exploration programmes across its existing North Sea asset portfolio; Support its recent North Sea 25th Round Licensing Applications, a condition of which in some cases includes certain minimum balance sheet requirements; Allow the Company to grow its existing Gulf of Mexico shallow water production base through participation in additional exploration, appraisal and development opportunities; and For general working capital purposes. The issue price of $0.27 per share represents a discount of 12.3% to the Volume Weighted Average Price ('VWAP') of Elixir's shares of $0.308 over the 5 prior trading days on the ASX. Receipt of funds from the Placement is expected on or around 5 June 2008, with the closing date for the Entitlements Issue being 27 June 2008. A meeting of shareholders to approve the Additional Placement is expected to be held in early July. Please note that the Entitlements Issue is only being offered to shareholders who are residents of either Australia or New Zealand, and therefore is not available for acceptance by shareholders who reside outside of Australia or New Zealand. Advisers The Company also announces the appointment of Blue Oar Securities Plc as its nominated adviser and broker to the AIM market. Blue Oar has nomad representatives in the UK and Australia as well a wholly owned Australian corporate advisory practice, Inteq Limited. Upon receipt of shareholder approval, the Company will seek to place Additional Placement shares to UK based professional and sophisticated investor clients of Blue Oar Securities Plc and others at the discretion of the board of directors. A further announcement in this regard will be made in due course. An updated presentation, which will be utilised as the basis of presentations to clients of Blue Oar, Australian brokers and other institutional and non-institutional investors, was released today on the ASX and can also be found on the Company's website at www.elixirpetroleum. Commenting on the capital raising and the adviser appointment, Elixir's Chairman, Jon Stewart said: 'We are delighted with the support we have received from supporting brokers and our shareholders. We are pleased to provide an opportunity for existing shareholders to participate in this fundraising through the entitlements issue. 'This financing will help the Company meet a number of strategic and operating objectives. It is management's intention to use Elixir's new balance sheet strength, together with its growing cashflow from production, to take advantage of existing opportunities within its portfolio and to aggressively pursue other new projects. 'We are also very pleased to have retained Blue Oar Securities Plc and Inteq as our advisers on the AIM market and the ASX. We consider our balanced portfolio of producing assets, appraisal interests and high impact exploration an attractive and relevant opportunity for the UK investment market and we intend to develop that market in conjunction with our efforts in the Australian investment market.' For further information, please visit Elixir's website at www.elixirpetroleum. Elixir Petroleum Limited Andrew Ross, Managing Director Tel: (+61) 8 9440 2650 Blue Oar Securities Plc Jerry Keen / Olly Cairns Tel: (+44) 207 448 4400 / (+61) 8 6430 1630 Conduit PR Jonathan Charles / Sarah Alexander Tel: (+44) 207 429 6666 |
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