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Elixir Petroleum Ltd (ELP)

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Wednesday 01 October, 2008

Elixir Petroleum Ltd

Pompano - Drilling Update

RNS Number : 7852E
Elixir Petroleum Ltd
01 October 2008
 



Elixir Petroleum Limited

(AIM : ELP)


1 October 2008


POMPANO DRILLING UPDATE


Elixir Petroleum Limited ('Elixir'), the international oil and gas exploration and production company (ASX:EXR, AIM:ELP), provides the following update on progress at Well SL10320 #4 ('Well #3'), the latest development well to be drilled at the Pompano field.


Since our last announcement, the operator at the Pompano Project, Anatexas Offshore Inc., has advised that Well #3 spudded at 07:30hrs on 22 September 2008 (US/CST). The Operator has also confirmed that the 36' caisson has been successfully driven to depth and that the 20' and 13 ½' hole sections have been drilled to planned depthcased and cemented to surface.  


At the time of the Operator's report at 06:00hrs on 30 September 2008 (US/CST), the rig was making preparations to commence drilling the 9 7/8' hole section from a depth of 3,005 ft. Th9 7/8' hole section will be directionally drilled to an approximate depth of 8,000 ft and is designed to penetrate a number of the target horizons for this well. 


The participants in Well #3 and their respective working interests are:


Elixir Petroleum Ltd *

25.0%

Buccaneer Energy Ltd *

65.0%

Baron Petroleum Inc.

7.5%

Streamline Exploration Inc.

2.5%


100%



* Interests held indirectly via their respective shareholdings in wholly-owned subsidiaries.


Information contained in this report with respect to the Pompano Project, was compiled by Elixir, or from material provided by the project operator and reviewed by I L Lusted, BSc (Hons),SPE , who has had more than 15 years experience in the practice of petroleum engineering. Mr Lusted consents to the inclusion in this report of the information in the form and context in which it appears.


For further information on Elixir, please visit the Company's website at www.elixirpetroleum.com, or contact:


Elixir Petroleum Limited

Alex Neuling    

Tel: (+61) 8 9440 2650


Blue Oar Securities Plc

Jerry Keen / Olly Cairns

Tel: (+44) 207 448 4400 / (+61) 8 6430 1631



Conduit PR

Jonathan Charles

Tel: (+44) 207 429 6666



This information is provided by RNS
The company news service from the London Stock Exchange
 
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