Ann: Mongolian Operations Update, page-2

Just some highlights:

Ann dated- today:

2 more boxes to tick.

"Elixir’s Chief Executive Officer, Neil Young, said “We are pleased that our 2019 CBM explorationprogram in Mongolia is proceeding apace, with milestones being passed on the various fronts ofdetailed technical work, contractor engagement, Government approvals and local community liaison.The progress (in the short 6 months since the PSC was signed) can be attributed to Elixir combiningits deep Australian CBM experience with its strong ties and relationships in Mongolia.“

ann- dated 01/03/19

Elixir Petroleum Limited (ASX:EXR) is pleased to announce that the full shortfall of 76,252,482New Options (ASX:EXROA) has been placed by the joint lead managers Originate Capital and XcelCapital. 

The placement of the shortfall has raised a further $762,525 (before costs), taking the total raisedunder the Company's pro rata non-renounceable rights issue of New Options to $934,625 (beforecosts).

Upon completion of the transaction, the Company will receive from Entek a cash refund ofapproximately US$1,340,000 for costs incurred by and refundable to Elixir under the SaleAgreement. The recently announced loan from Entek of US$500,000 will be offset against thisamount, resulting in a net cash injection into Elixir of approximately US$840,000 at completion.These funds will be directed towards the Nomgon IX CBM PSC exploration program. and

Ann- dated 12/02/19

➢ In late 2018 Elixir acquired~150,000 acre leasehold positionon Alaska’s North Slope (100%ownership position)
➢ Acreage considered on trend torecent large oil discoveries
➢ Option deal struck with ASX listedEntek Energy (ASX:ETE) to sell thelease package for ETE scrip
➢ ETE has now exercised its option
➢ Elixir will distribute the ETE scripreceived to all shareholders - on apro-rata basis
➢ Elixir shareholders to receive ~1ETE share for two Elixir sharesheld
➢ Record date to be immediatelypost shareholder approvals

All looking good at this stage

jmo
glall
please DYOR