Past year: ▲ 43%(4.20c – 15.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
6 Oct 2011regulatory community update▲ GoodMajor
The French Government confirmed the Moselle Permit remains valid, with 61 of 64 permits upheld. Three permits held by Total and Schuepbach were abrogated under the fraccing law. This removes a permit-loss risk for Elixir after the ban.
5 Oct 2011other● Neutral
Notice of an audio broadcast with the Managing Director on the share placement and board appointment. No new information in the notice itself.
5 Oct 2011capital raising announcement● NeutralMajor
Elixir is raising up to A$1.132m through 28.3m shares at $0.04, with largest shareholder Aurora taking part, to fund Moselle well planning. Issued shares rise to 217.3m. Alan Watson joins the board and is expected to replace Jon Stewart as chair at the November AGM.
What it means for a shareholder
28.3m new shares at A$0.040 to raise about A$1.1m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held A$1,000 of shares (25,000 at the issue price), your slice goes from 0.0132% to 0.0115% of the company. To keep it you'd need 3,744 more shares - about A$150 at the issue price.
Create a free account to see this worked out for your own holding.
30 Sept 2011annual report▼ Bad
Year to 30 June 2011: net loss A$3.36m (prior A$5.70m), cash A$1.32m (prior A$5.08m), no debt. Revenue A$1.12m on sharply lower Gulf of Mexico output. Iain Knott resigned as director on 22 July 2011.
23 Sept 2011other● Neutral
Notice of an audio broadcast with the Managing Director discussing the Moselle presentation. No new information in the notice itself.
19 Sept 2011other● Neutral
Notice of an audio broadcast with the Managing Director on the Moselle volumetric estimate. No new information in the notice itself.
16 Sept 2011resource reserve update▲ GoodMajor
NSAI's independent Moselle estimate: unconventional best-case in-place 164.7 billion bbl oil and 649.7 Tcf gas, plus conventional mean 2.1 billion bbl oil or 2.2 Tcf gas across 19 prospects. These are in-place volumes, not reserves; Elixir plans up to three wells in 2012. Resolves the long-pending estimate.
16 Sept 2011investor presentation● Neutral
Perth presentation repeating the NSAI Moselle volumes and the plan for up to three wells in 2H 2012. Share price $0.038, cash $1.0m, 188.9m shares. No new facts.
6 Sept 2011investor presentation● Neutral
Good Oil conference presentation. Says unconventional in-place resource has been independently certified (to be published) and that the fraccing ban shifts focus to conventional targets, with Moselle farmout from Q4 2011. Share price $0.035, cash $1.0m, 188.9m shares.
12 July 2011other● Neutral
Notice of an audio broadcast with the Managing Director on the Tiger farmout. No new information in the notice itself.
11 July 2011farm in farm out agreement▲ GoodMajor
Elixir conditionally farmed out Tiger (Block 211/12b, 90 MMbbl most likely) to a private explorer taking 85% and operatorship, carrying Elixir's 15% through a firm well and a contingent appraisal well (~£30m total). Needs DECC approval; spud targeted first half 2012. This advances the long-running Tiger farmout thread.
8 July 2011other● Neutral
Notice of an audio broadcast with the Managing Director on the new French fraccing law. No new information in the notice itself.
5 July 2011regulatory community update▼ BadMajor
France passed a law banning hydraulic fracture stimulation, effective once published. Elixir says it did not plan to frac at Moselle and still expects its maiden resource estimate in Q3 2011. This overtakes the mid-June government study as the key regulatory event for its unconventional ambitions.
1 Apr 2011security holder rights change● Neutral
1,750,000 unlisted 25c employee share plan options expired unexercised on 31 March 2011. Administrative only, with no cash impact stated.
31 Mar 2011regulatory community update● NeutralMajor
Moselle studies are described as very encouraging, with at least six sub-plays identified. The farmout marketing is delayed to early second half 2011, pending further technical work and a French government unconventional-gas study due mid-June, with drilling paused meanwhile. Independent resource estimate still pending.
31 Mar 2011other● Neutral
Notice of an audio broadcast with the Managing Director on the Moselle Permit update. No new information in the notice itself.
17 Mar 2011half year report● Neutral
Half-year to 31 December 2010 shows a net loss of A$1.38m (prior-year half: A$4.09m) and cash of A$3.47m, debt free. High Island and Pompano revenue were about US$334,000 and US$350,000. Pompano Well #3 abandonment was completed in January 2011.
10 Mar 2011asset acquisition disposition▲ GoodMajor
Award of Block 30/25a in the Central UK North Sea was finalised, with Elixir 100% operator on a two-year promote licence from 10 January 2011 and a drill-or-drop decision before expiry. It holds three mapped prospects. This resolves the provisional November offer.
14 Jan 2011director officer appointment● Neutral
Michael Price was appointed independent non-executive director on 13 January 2011, joining the board of Stewart, Ross, Knott and Robertson. He has a finance background and was formerly a director of Eureka Energy.
6 Jan 2011price query● Neutral
ASX queried a share price rise from $0.086 on 31 December 2010 to $0.135 on 6 January 2011 and asked whether Elixir had undisclosed information. The company's reply is not included in this text.
24 Dec 2010other● Neutral
Administrative release of the company's securities trading policy, required under ASX listing rules from 1 January 2011. No operational or financial substance.
23 Nov 2010investor presentation● Neutral
AGM presentation largely repeats known facts: cash A$4.1m at 30 September 2010, debt free, 188.9m shares, share price $0.083. Notes the Moselle independent resource statement is due Q1 2011 and cites the Hess–Toreador Paris Basin deal as a valuation benchmark.
1 Nov 2010asset acquisition disposition▲ GoodMajor
Elixir was provisionally offered the southern part of Block 30/25 in the UK 26th licensing round, as 100% operator on a promote licence. This delivers on its stated plan to join the round. Award is subject to usual regulatory approvals.
25 Oct 2010annual report● Neutral
2010 annual report repeats the FY10 results already reported. The chairman calls the April 2010 Moselle acquisition a deliberate expansion into European unconventional gas. Cash was over A$5m with no debt; Tiger has several parties in the dataroom, though UK farm-out conditions remain challenging.
24 Sept 2010annual report● Neutral
Full-year accounts show a net loss of A$5.7m (2009: A$28.6m) with no impairments. Elixir's share of sales revenue fell to A$2.5m (2009: A$5.6m) on High Island restrictions and lower gas prices. Leopard was relinquished, Tiger marketing began and Moselle was acquired.
8 Sept 2010investor presentation● Neutral
Good Oil Conference presentation repeating known business: Gulf of Mexico production, North Sea Tiger, and onshore France Moselle. Share price $0.064, market cap $12.1m, 188.9m shares. No new results or transactions are evident in the readable text.
17 May 2010security holder rights change● Neutral
637,148 unlisted options at $0.59, issued to Ambrian Partners in 2005, expired on 16 May 2010. Administrative only, with no cash impact stated.
15 Apr 2010asset acquisition disposition▲ GoodMajor
Elixir completed the acquisition of East Paris Petroleum Development after French government approval, giving it 100% of the 5,360 km2 Moselle Permit. This resolves the pending condition. Seismic reprocessing of over 500 km and review of 105 wells are under way.
16 Mar 2010half year report● Neutral
Half-year to 31 December 2009 shows a net loss of A$4.09m (prior-year half: A$21.5m) and cash of about A$6.7m, debt free. High Island is constrained by compression, and Well A2 stays shut in. Operator likely to recomplete both wells on shallower zones in the first half of 2010.
17 Feb 2010investor presentation● Neutral
Presentation for investors on the Moselle Permit acquisition, repeating known details. It shows cash of about A$6.75m, share price $0.041 and market cap about $7.7m. No new substantive information beyond the 8 February announcement is evident in the readable text.
