|Project Name:||Project Peregrine|
|Location:||North Slope, Alaska|
|Ownership:||100% Working Interest|
|Acreage Position:||35,423 acres|
On 12 September 2018, Elixir announced to acquire a 100% Working Interest in 35,423 acres of highly prospective leases in Alaska (the “Leases”) which are adjacent to the Umiat oil field.
The Leases lie within the National Petroleum Reserve of Alaska (“NPRA”) which is managed by the United States Bureau of Land Management (“BLM”). The Leases were originally awarded in 2014 for a period of 10 years, expiring 1 March 2024.
Elixir has paid a non-refundable US$150,000 exclusivity fee which is deductible from the cash consideration on completion of the acquisition. Elixir’s exclusivity fee provides it with the exclusive option to acquire the leases on or before 31 October 2018.