|Project Name:||Moselle Permit|
|Ownership:||100% Working Interest|
The renewal application for the Moselle Permit was lodged in September 2013 with the relevant French authorities. Elixir has committed to a second five-year exploration period and with all obligations relating to the first exploration period previously being met.
On 23 December 2017, the French parliament passed new laws that prohibit the award of any new exploration licenses and will ban all future oil and gas activities from 2040 onwards. Following the passing of this legislation, the Moselle Permit (along with several other permits with renewals pending) was formally renewed.
Elixir subsequently has lodged an application for a three-year extension of the second exploration period, which if granted will extend the expiry of the second exploration period to 20 January 2022. In addition, Elixir has the right to apply for a third exploration period on expiry of the second exploration period, which will extend the term of the Moselle Permit for a further five years, subject to Elixir continuing to meet its license obligations within the second exploration period and a relinquishment of a further 25% of the total license area.
The application for the extension was lodged with the French authorities on 5 April 2018. Should Elixir be granted a three-year extension of the second exploration period and granted a third five-year exploration period, then Elixir could potentially retain the prospective area of the Moselle Permit until January 2027.
Elixir has recommenced desktop-based exploration activities and will reactivate its previous farm-out efforts for the Moselle Permit, which is considered prospective for both natural gas and oil. Elixir has previously mapped a number of conventional prospects and in 2013 was actively marketing these prospects for farm-out prior to this process being suspended following the extended delay in the renewal process.