Elixir Petroleum is an Australian registered company which has a clear aim of growing shareholder value through evolution into a mid-tier oil & gas exploration and production (E&P) company. Its initial focus has been on high impact North Sea exploration. The group is listed on the Australian Stock Exchange (ASX) and the London AIM market.

The UK North Sea was deliberately chosen as the first core exploration area. Elixir believes that the UK Continental Shelf remains highly prospective for oil and gas exploration. The area benefits from low political risk, relatively attractive fiscal conditions and established oil and gas infrastructure. Changes to the UK licensing regime in 2003 provided improved access for junior explorers. These created the opportunity for Elixir to rapidly build a portfolio with exposure to meaningful prospective targets in the region.

Elixir has established a material North Sea footprint by a series of successful licence applications, one acquisition and a farmin. The adoption of state-of-the-art technology has allowed identified prospects to be advanced to drillable stage very economically. So Elixir shareholders are exposed to potentially high reward exploration activity at a relatively small cost. Since inception the company has participtated in an active drilling program where success in one venture would have a significant value benefit for its shareholders.

The company is also aiming to complement its exploration activities by adding development and/or production assets. These would provide portfolio diversification and balance to offset and fund higher risk exploration. The search for producing assets is not limited to the UK North Sea particularly given recent increased competition and high asset sale prices. Other areas including the wider North Sea, Central Europe, North Africa and North America are being actively investigated for new growth opportunities.