Elixir Petroleum Share Discussion Threads

[p@] 22/12/2010 10:59

Thnx drew,couldn't make sense of it myself.LOL

[drewz] 22/12/2010 10:57

In summary, Jon Stewart bought another 1 million Elixir shares at 8c (5p approx) on 21 December.

Augers well for some good newsflow in 2011.

[extrap] 22/12/2010 10:44

22/12/2010 Change of Director`s Interest Notice

[hermana3] 30/11/2010 11:33

Let us hope Andy is spot on with his timing.

[drewz] 29/11/2010 14:23

29 Nov - Andrew Ross acquired 355,000 shares at average price of AUS$0.0833 = 5p.

Good.

[extrap] 29/11/2010 14:12

MD increases holding:

[hermana3] 17/11/2010 09:46

Not a dead yoke by any means. Certs not due for torching just yet...

[vg2208] 10/11/2010 11:42

Nice 10% increase last night in Oz. General trend still moving in right direction.

[m4m] 02/11/2010 16:30

Afternoon m8ys

Mine is in the bottom draw and then Mr Postman brought me an invite to a shareholders meeting down under later this month.

I think I'll give it a miss ;)

[hermana3] 01/11/2010 07:04

New North Sea licence here adjacent to Ardmore field.

[hermana3] 25/10/2010 07:42

Accounts out and AGM on way...

[soulsauce] 07/10/2010 10:20

May be ELP can finally get somewhere with their N.Sea assets as things hotting up there on the JV front:-

Antrim and Premier Form Joint Venture in the Fyne Area, UK North Sea

CALGARY, ALBERTA--(Marketwire - Oct. 7, 2010) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S.

Antrim Energy Inc. ("Antrim") (TSX:AEN) (AIM:AEY) is pleased to announce it has signed an agreement with
Premier Oil UK Limited ("Premier") to jointly explore development options for the Fyne Area located in the UK
Central North Sea. Under the terms of the agreement, Premier will pay an initial consideration of US$2 million
to Antrim, and will have the option to acquire a 39.9% interest in the Fyne Licence (Block 21/28a) in return
for a payment ("carry") up to US$50 million, less the initial consideration, towards the pre-development and
development costs of the Fyne Field.

[vg2208] 28/9/2010 08:39

SP moved up again by about 11% overnight. Accounts to 30/06/2010 now available on Company website.

[inkunzi] 27/9/2010 09:27

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.

[drewz] 24/9/2010 19:01

Up a further 25% in Oz this week - now worth 5p equiv.

0.084 AUD = 0.0508876 GBP

Who knows, with a positive result in the North Sea at Tiger or Mulle next year, we could be looking at a re-list in London and re-test of old highs.

All to play for.

[hermana3] 24/9/2010 17:34

Raise a glass to Moselle.

[soulsauce] 24/9/2010 11:26

Looking very tasty here now ;-)

[soulsauce] 23/9/2010 07:39

Still shooting up ;-)

[hermana3] 21/9/2010 13:27

Years dead here

[wakeland] 21/9/2010 13:24

Can't see anything on the aussie announcements but encouraging nonetheless. It has been a long time static.

[soulsauce] 20/9/2010 08:31

Nice jump overnight, something brewing?

[soulsauce] 17/9/2010 09:13

Lets hope so drewz.

[drewz] 17/9/2010 09:08

Me too. But 4p equiv is a lot better than the 1.65p they delisted at.

And with Tiger being marketed at the moment for a North Sea drill, we may get another boost in the next few weeks.

[hermana3] 16/9/2010 23:38

Still leaves me well under the bar...

[drewz] 16/9/2010 22:59

Making good progress down in Oz since the Good Oil Conference presentation - up every day:

Closing prices
Closing prices are displayed for the last 5 days on which the security traded on ASX within the last 6 months.

Date ..... Last..% Change High Low...Vol *
16 Sep 2010 0.065 1.56% 0.065 0.064 247,000
15 Sep 2010 0.064 4.92% 0.064 0.062 384,506
14 Sep 2010 0.061 1.67% 0.063 0.061 269,500
13 Sep 2010 0.060 3.45% 0.060 0.057 360,000
10 Sep 2010 0.058 7.41% 0.058 0.055 460,000