Elixir Petroleum is an international exploration and production company listed on the Australian Stock Exchange (ASX:EXR) and the London AIM market (AIM:ELP).

Elixir holds interests in producing gas and condensate fields located in the Gulf of Mexico, has extensive interests in exploration and appraisal licences in the UK North Sea and is operator of a highly prospective block offshore Sierra Leone, West Africa.

The UK North Sea has been targeted by Elixir as a core exploration area based on the view that the UK Continental Shelf remains highly prospective for oil and gas. The area benefits from low political risk, attractive fiscal conditions and established oil and gas infrastructure. In addition, changes to the UK licensing regime in 2003 provided improved access for junior explorers and created the opportunity for Elixir to rapidly build an exciting portfolio with exposure to meaningful exploration and appraisal targets in the region.

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 has expanded its exploration activities to West Africa by acquiring an interest in, and assuming operatorship of, highly prospective Block SL-4 offshore Sierra Leone. Block SL-4 is over 4,400 km² in areal extent and sits in water depths ranging from 100m to over 3,000m, which covers the shallow shelf, slope and deep water Sierra Leone Basin floor. A 1,222 km² 3D seismic programme has been completed and it is anticipated that world class, drill ready targets will be available to farm out in early 2009.