Elixir Petroleum Share Discussion Threads

[hermana] 04/3/2009 08:59

Soul,Ross did not offer shares in fundraising to us lot and we in retrospect can be grateful for his snub....

[soulsauce] 04/3/2009 08:54

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

[drewz] 04/3/2009 03:13

Many thanks, soul.

Please keep us informed as/when Selftrade work out their answer.

I shall be keeping my ELP shares pro tem anyway, in the hope they can survive and come out the other side of this horrendous economic slump.

All the best.

[soulsauce] 04/3/2009 00:22

drewz - 3 Mar'09 - 17:17 - 3503 of 3509

Heyup drewz.

This is what I have so far:-

Dear Mr. xxxxxx.

Thank you for your message.

I am currently investigating what will happen to your shares after this delisting from the AIM. I will get back to you as soon as possible with an answer.

Kind regards,

xxxxx
Selftrade Customer Services

[zengas] 03/3/2009 21:00

herm,

I've picked up a nice holding in PCI. I think they are undervalued relative to their prospects, capital and links with Iberdrola (whether the market/sentiment agrees is another thing but imo the market won't be down for ever). PCIs time has come with these upcoming wells imo to potentially change the company one way or the other. You only have to look at a similar company being acquired at 6-7 times PCIs current cap, if only part of the asset portfolio delivers.

[hermana] 03/3/2009 20:41

Zen,this lot are strapped so easy to understand the dropping of AIM quote. The game goes on here. BTW do you follow PCI and if you do are they undervalued at current levels?

[zengas] 03/3/2009 20:30

By Patrizia Rossi on January 27 2009
As fundraising activity on AIM dwindles, hitting a four-year quarterly low, according to accountant and business advisory firm Deloitte, public companies are reassessing the value of shelling out up to £250,000 a year on an AIM listing and looking elsewhere to cut costs.



2 others at least, ie Caspian Energy, Genesis Woildwide left AIM and trade only on the TSX since last month but there has been a steady stream of companies delisting from AIM due to maintaining dual listings.

I'm keeping my shares in ELP. At the end of the day it won't make any difference to where they are traded and their prospects are just the same, so as a company, management should be respected for taking steps to prune costs.

Australian Securities Exchange

[wiganer] 03/3/2009 18:56

Pomprocktastic!

[hermana] 03/3/2009 18:51

Theres a link on above header.

[skyship] 03/3/2009 18:31

Anyone know the EPIc in Oz - ASX:???

[drewz] 03/3/2009 17:17

Hi soul,

could you please let us know what Selftrade say i.e. can they stay in a Selftrade ISA (ASX being a recognised exchange) under Selftrade nominee, or do they require us to extract them on certificates because they are delisting in the UK?

many thanks

drewz

[soulsauce] 03/3/2009 11:40

Agree drago.

As they are not wanting to give any of that cash back that they took from Aim to pay us out, might as well hold on the ASX and see what comes off.

[talltalk] 03/3/2009 11:38

I am also in Selftrade ISA . Not worth selling now !

Will wait and see ..

[drago] 03/3/2009 10:05

soul
mine are in an isa too. i think quite a few were bought in aus as they were considerably cheaper than in the uk. i'll see what idealing send me.
i'm not going to lose sleep as the shares have fallen so much , they're not worth much anyway, sour grapes.
as per zengas post , the potential is amazing if the op recovered and even one of the n sea items came good.

[soulsauce] 03/3/2009 09:42

Inkunzi I have emailed Selftrade for clarification of what will happen with my shares. As I see it my shares will still be held with Selftrade and ELP have set up a platform to trade through WHI on the ASX so as not to penalise UK holders.

It sems to me at the mo' there is now a significant difference between the price sterling to the price $Aus.
So I see the share price going back up a bit or some speculators may buy in for when the convert to $Aus which in turn should move the share price back up.

No point selling at the current 1p.

Or may be I am just talking b*llocks and have been totally screwed - AGAIN!!

[inkunzi] 03/3/2009 09:28

Can someone clarify for me please.
My shares are presently with Hoodwink, will they automatically be transfered over to WH Ireland on the 31st March, or do i know need to set up a trading account with WH Ireland? Are able to continue trading through WH Ireland or do they just hold the share and any trading is done through an account set up with ASX ?

Thanks

[hermana] 03/3/2009 08:33

soul,I joined for NS drills and not enough of them in recent times...

[soulsauce] 03/3/2009 08:27

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.

[hermana] 03/3/2009 08:24

Damn shame.

[soulsauce] 03/3/2009 08:16

Me too lol, I am with Selftrade. I am going to email them shortly.

[hermana] 03/3/2009 08:14

Hope Selftrade dont burn me certs....

[soulsauce] 03/3/2009 08:06

I agree hermana. Another harsh lesson learnt.

[hermana] 03/3/2009 08:03

soul,will hold and see if they can ever get a drill on in NS. Writing was on the wall for AIM quote when they excluded us unwashed from last years placement.