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.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
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.
29 July 2011quarterly activities report● Neutral
June quarter: Moselle studies completed, with 8 large conventional prospects and 4 leads mapped, and the NSAI resource estimate due Q3. The French fraccing ban took effect 13 July 2011, and the Tiger conditional farmout is reported.
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.
2 May 2011quarterly activities report● Neutral
March quarter: Moselle studies progressed, extra 464 km of seismic reprocessing started, and the independent resource estimate is now due mid-year. The finalised Block 30/25a award is noted. French government's preliminary unconventional study was published 21 April 2011.
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.
28 Jan 2011quarterly activities report● Neutral
December quarter cash fell to A$3.5m. High Island gas rose 31% to 0.35 MMscf/d, but the recompletion still awaits Well A-1 oil falling below the regulator's rate, expected Q1 2011. Pompano gas fell 22% to 3.8 MMscf/d on rising water. A new Central North Sea licence was won; Moselle resource estimate is due soon.
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.
29 Oct 2010quarterly activities report▼ Bad
September quarter cash fell to A$4.12m from A$5.1m. High Island gas fell 23% to 0.27 MMscf/d; the regulator now will not approve the recompletion until Well A-1 oil drops below 50 bopd, expected Q1 2011, adding further delay. Pompano gas fell 13% to 4.9 MMscf/d.
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.
30 July 2010quarterly activities report● Neutral
June quarter cash fell to A$5.1m. The High Island recompletion was postponed because the Macondo blowout caused support vessel shortages and price spikes. Moselle sampling and studies began and Tiger farmout marketing started. Several new opportunities are under consideration.
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.
30 Apr 2010quarterly activities report● Neutral
March quarter cash was A$6.38m. Moselle was acquired. High Island gas fell a further 55% to 0.31 MMscf/d, with recompletion of both wells on shallower zones scheduled for June. Pompano held at about 5.9 MMscf/d; further work there is under consideration.
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.