As a SH in this company for a few years now I was hoping and thought that the reco and funds boost to the bank account might just inspire some action. Any Action.
The days roll into weeks and weeks into months and we are a Gonna do this and a Gonna do that.
We were going to drill in Colorado years ago and then the POO price hit the fan so put on hold.
HOLD>>>HOLD>>>HOLD>>>>HOLD>>>>>HOLD>>>
Then when Hartleys upped the Ante with the hot shot as I was informed on the EXR thread and throw in the David Wall factor I was thinking this has the foundation for some serious action and a rebuild. That was quite a while back now.
You know the good old......... fall back regroup and CHARGE.....................
Just maybe we will do SOMETHING.
Just maybe we will just do ANYTHING.
So here is the "STRATEGY"- Direct from the Half Yearly.
STRATEGY
Elixir is an oil and gas exploration company with current operations in the United States and France.
Elixir’s previously stated strategy is to pursue opportunities in predominantly OECD countries which meet a
number of the following criteria:
· Onshore, early stage, low cost exploration opportunities with moderate geological risk;
· Conventional and unconventional oil and gas reservoirs with near term cash flow possibilities;
· Expose shareholders to multiple well drilling programs;
· Execute farm-in and farm-out agreements to grow the portfolio or manage risk; and
· Entering strategic partnerships for development projects to leverage opportunities.
The Company will continue to target additional projects that meet the above criteria whilst being opportunistic
with other transactions that may present themselves.
I have a seriously very good idea for the Board of Elixir.
Expose shareholders to multiple well drilling programs; Excellent Idea.
Why not drill a HOLE in our lease in COLORADO. What a great idea you never would have thought?
But hang on is it ECONOMICAL if successful.
Please tell us Elixir.
Based on the above numbers and using the Mean Prospective Resource shown above, the independent
assessment estimated an un-risked net present value of US$41.8MM net to Elixir (A$55MM at USD/AUD: 0.75
exchange rate) for the Mississippian and the Cherokee A formations. These valuations are based on West Texas
Intermediate (WTI) oil price of US$50/bbl (less a US$9/bbl deduct for transport and marketing fees) and
production curves generated from publicly available analogue field data from surrounding fields. The valuations
demonstrate the economic robustness of the conventional prospects being targeted by Elixir and that the Petra
Project is clearly economic in the current oil price environment.
So PLEASE expose us to some action as in the STRATEGY above and drill like so many other oilers are doing right now in the good old USA.
PLEASE PLEASE be.... "OPPORTUNISTIC". DO SOMETHING.
If you don't want to be an oiler anymore then buy another business that can be developed and shows some potential to develop.
Take some leadership and show us SOMETHING.
The above is all of the personal opinion of a SH of EXR and as always DYOR.
EXR Price at posting:
3.1¢ Sentiment: Sell Disclosure: Held
