Slide 1: Placing a Large Footprint on a World-Class Oil Province
elixir peirlnurn brraia een Nig ne eh op aii) ee et aos) : Elixir Petroleum Ltd Placing a Large Footprint ona World-Class Oil Province divpetecialtn
Slide 2: Fast-Growing E&P Company
t-Growing E&P. Company = ae S “elixir Parelrary tnitad - Elixir-a North Sea focused os exploration, company has achieved. rapid:growth in just over 12 months . «Holds interests in 13 UKCS : icences covering 18 blocks « Participating in an‘active drilling “program over next 2 years * cafém cash, capa
Slide 3: Elixir's Clear & Simple Business Model
Elixir’ Clear & Simple Business Model | . - elixir oakecinyen Sita . ~ Our objec ~ = to offer investors exposure to a.sustained, high impact drilling program - where.OQne success is a company-maker. » ( k ‘Production opportunities ina sensible manner ; oS participate i in 15 8 exploration wells over
Slide 4: Achievements over past months
ard over past 15 months ow Listed on ASX and AIM = $22, im (£8. am) equity ‘Diverse UKCS portfolio (13. licences) - Drilled first explaration well cA Farmed-out Jaguar. _ y own 238 Round applications ae ¥ Operator of traditional licence (211/186) oe veN etwork of tech lical contacts J-into Muness
Slide 5: oboe
oboe ska Sta gp Unrisked Net Resources (RHS) gam Risked Resources (RHS) —@—No. Licences (LHS)
Slide 6: Success in 23rd Round Awards
7 Success in 23"¢ Round Awards OES ell “Interests in six licences (seven bocks). - Elixir sucessful in two licence applications < ‘st ong, acreage posttion across all North Sea — Northern, Central Bo . Southern basins ve ° Consolidated NNS interests (Block 21 1/18b Traditional, 21 1/8b Promote) | wi
Slide 7: Elixir's UKCS Interests
Elixir’s UKCS Interests Northern Nol t 211/22b° 211/18b(split)* 214/8b* 2 13/49 & 19/240, 50% 13/25". 8. 28% 14/8(part) & 14/9(part) * 0%. ~ 14/44b 2 50% | ABI1BB 38H, Southern North Sea, : 33.3% 83.3% * 23" Round Award 9/26a, 16/1b.& 16/2c_ 33.3% PBB evicrcroace PY omer ceva Ase on TTTomer ucersesa
Slide 8: Block 211/22b – Jaguar Upper Jurassic Play
| Block 211/22b — Jaguar Upper Jurassic Play. " alti HURCHISON 354 O26 ders ato)
Slide 9: Jaguar Prospect – Cross-Section
| Jaguar Prospect — Cross-Section _ elpar : takes, Seve ERG owe HAE PEAT DAES A ane A anes Bees tmawsee” Heeer Sonne Carmarant Bigs 2112-3 Horst Geoeciame Grose Section: Fram Tern Ridge Southeast across Marth Cormorant and Black 2112
Slide 10: Inversion Sand Display
Inversion Sand Display o al $ . 211/22-1 De-risking by advanced - interpretation ‘techniques
Slide 11: Elixir's Prospect Inventory
Elixir’s Prospect Inventory _ ~ alpir f eon! anita ry Alli 22nd Round 23rd Round Awards 13/19, 13/246, 15/13b, 14/14b, 9/26, 16/1b, 16/2c, 9/22, 9/23¢ 13/25, 14/8a, 14/8a, 43/7, 44/276 2,145 2,244 528 345 33-50% 25-50% 206 115 40 17 Prospective resource volumes unmatched by most junior E&P companies
Slide 12: Prospect discovery value
Bow in. Assuming similar farmout terms to Jaguar Midcase prospective resources : ne Valued at US$10/bbl NPV, USSIA$ FX rate 0.75, Based on 89.0m fully-diluted shares. *. Prospect Size @)| Risked-Net Discovery Discovery | Interest (MMB).-~] Resources|: Value. -| “Value @ a - (MMB) - ($m). (S/share) u
Slide 13: People Assets
People Assets - ienced London-based management team . : ‘Russell Langusch - 30 years in oil & gas and finance. Angus: MacAskill ~24 years oil & gas lain Knott 23 years North Sea oil & gas. . . ‘pcoels to wide array of experienced consultants. - oy — . Strategic alliances with several leading technic
Slide 14: Board and Management
bertson — Non-Executive Chairman ~ Don Maloney — Deputy Chairman oS Russell Langusch - Managing Director. Angus MacAskill - Business Development Director . tain Knott - Exploration Director ‘+. Kent Hunter — Director/Co Secretary
Slide 15: Capitalisation Growth
: Capitalisation Growth elixir Elixir's Market Capitalisation vs Equity Captial Raised 50 ~ 40 nf \ 30 = : : hy & . < . 20 Se a 10 0 3 3 3s 3 3 3 Ey 8 8 8 8 3 $ 8 3 3 e® 2 5 & €#€ £ € £€ ¢ €£$ 8 F F BF gs 8 lag Equity Raised Market Capitalisation
Slide 16: Capital Structure
- Capital Structure — ~ Fully-p dotdinary shares -63.7m - ~ (9.0m escrowed until Jun 06). aS : Total ptions on issue aeons oe 15.5m ee (3 priogs A20c-ASt- 30, Jun O?- -May 10). ie ; ~A$35.1m (£14.6m) — : Maior Shareholders ; : RAB Capital a oe BAM Fidelity. SOS Se oe 5.9% om NCL, Investments I . 52%
Slide 17: Elixir – Building on Early Success
‘Elixir — Building on Early Success + Exp ra ie n portfolio unmatched by peers isked net resources 240 MMB in 13 UKCS licences “Active drilling program (5-8 wells over next 2 years) $, Huge leverage to success in any one discovery oS Muness earn-in well Nov-Dec ‘05 an -WelL-positioned for numerous n
Slide 18: -elixir
-elixir ™ (pekaia Bii rving companies succeeding i in | the North Sea, we see speed, “Innovation and close partnerships with leading specialist: technology companies have accelerated this success”: “O y “Martyn Hargrave, Ikon Science, October 2005
Slide 19: Contact Details
| Contact Details Elixir Petroleum Limited 8 Duncannon St - Tel +44 207 484 5019 Fax +44 207 484 4992 : vB - www.elixirpetroleum.com 9a Agnew Way - ~ Subiaco 6004. Western Australia Tel +618 9388 8041 @e ~ London WC2N 4JF Fax +61 8 9388 8042 - Speen incur
Slide 20: suboinen faved
suboinen faved elixir | ellxir petroleum limited