GOIL Granby Oil

    12 March, 2007   

                                                                               

                           ELIXIR PETROLEUM LIMITED                            

                          ("Elixir" or "the Company")                          

                                                                               

                           COMPLETION OF GUINEA WELL                           

 

 

Elixir Petroleum Limited (ASX: EXR, AIM: ELP) announces that its joint venture
partner, Nexen Petroleum UK Limited (Nexen), has completed drilling of the
Central North Sea well 15/13b-8 located on the Guinea prospect.

 

The well was drilled to a total depth of 2,176m.

 

No significant hydrocarbons were encountered in the major Palaeocene objective
and the well is now being plugged and abandoned.

 

Elixir retains a 13.125% working interest in Block 15/13b after Nexen and Gas
Plus International BV completed their farmin obligations on the Guinea well.

 

Russell Langusch, Elixir's Managing Director, said, "Unfortunately dry holes
are not unexpected in the exploration business. While we are disappointed that
Guinea did not come up trumps, the remaining deeper prospectivity in Block 15/
13b is unaffected.

 

We shall be working hard to advance drilling activities on several of our other
UKCS licences. Due to the conservative approach adopted to finance our North
Sea exploration activities, we have sufficient cash reserves to cover existing
work commitments and likely drilling programs.

 

The high potential Leopard prospect is part-way farmed-out and marketing of the
nearby Panther prospect is well underway. We are also aggressively pursuing
other opportunities to add development/production to our asset portfolio".

 

 

For further information please contact:

 

Elixir Petroleum Limited                                                   
                                                                           
Russell Langusch, Managing Director            +44 207 484 5623 (UK office)
                                                                           
                                                 +44 7840 523 771 (UK cell)
                                                                           
                                           +61 411 725 858 (Australia cell)
                                                                           
                                      E-mail: rlangusch@elixirpetroleum.com
                                                                           
                                                                           
                                                                           
BanksideConsultants                                                        
                                                                           
Michael Padley/Susan Scott                                 +44 207 367 8888
                                                                           
                                                                           
                                                                           
Seymour Pierce Limited                                                     
                                                                           
Jonathan Wright                                            +44 207 107 8000
                                                                           

 



END

Granby Oil & Gas (LSE:GOIL)
Historical Stock Chart
Von Jun 2024 bis Jul 2024

Granby Oil & Gas (LSE:GOIL)
Historical Stock Chart
Von Jul 2023 bis Jul 2024