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EXR - Elixir Energy

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Gee its quiet over here

Just though I'd post some charts if anyone was interested, as fundamentals (merger / HI production) may support what I've been watching come together
 

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Hi folks,

EXR has taken a beating this past week, with
a few small gaps on the way down ... this has
given the price action a right-hand bias, since
April 2007 lows .....

..... another bounce off the lows this week,
will give further confirmation to the ellipse,
which has been building, since late-2004.

Looking ahead, to the business end of the chart,
an ascending triangle has been forming, since
April 2007 lows and topside resistance looks
strong around 32 cents ..... beyond that, we are
shooting for 55 cents by mid-February 2009.

Three positive time cycles expected, around 24012008 ...

Fundamentally, EXR has a significant stake in a
well going down right now, offshore Texas, in GOM.

EXR chart attached, below .....

have a great weekend

paul



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It has been a while since I last played EXR as a BESBS play but I have taken a small position in EXR again. Cash is king in this market and approx. 4c in cash is a good starting point. This helps give some foundation to back the more riskier analysis:

Scenarios:

If EXR announce that Leopard will drill before Christmas, the SP would hit lift-off very quickly IMHO based on recent events with MMR & MOG. The size of Leopard is equal to the MOG and MMR targets and the same crazy punters are still out there!

Much more likely, an extension is granted for Leopard (I would imagine this would indicate that EXR have some serious negotiations in place for this to be granted) and it is still good news for the SP as the lease remains although nowhere near the potential impact of immediate drilling.

As a back-up, EXR still have Mulle in the background. Pompano for cash flow.

It is a wildcard but what happens if EXR decide to enter a JV soon in a new project rather than simply focus on farming out what they have at present? Clearly it has been difficult to get suitable JV farmins as they have tried to do this for their North Sea projects with similar success to the Richmond forward line! Why not look to farm in to other company leases elsewhere? This could see EXR suddenly have an unexpected drilling in early 2010. I know it is hypothetical but I do wonder if management might be thinking along these lines. They would not like the SP sitting where it is and there is only one way to move it quickly - start drilling! The SP has dropped from the lofty heights of $1 some years back to 6c. Can't see that helping the long term wealth of management. This above scenario is simply my ponderings and has no guarantee of being management strategy - DYOR


Can't see a lot of negatives here as a medium term hold given the cash backing.


Holding EXR at 6c and buying on weakness
 
On June 4th, 2019, Elixir Petroleum Limited changed its name to Elixir Energy Limited.
 
EXR on the move today, up 20.93% to 5.2c on heavy volume of around 25 million shares.

On Thursday last week the company announced that it has received final environmental approval to commence its field exploration program in Mongolia after Mongolia's Ministry of Environment & Tourism approved Elixir’s Detailed Environmental Impact Assessment (DEIA). This was the final approval needed for the company to commence its upcoming seismic and drilling program targeting coal bed methane/coal seam gas.

Drilling is planned to commence in or around September 2019 and no further government approvals are required.

 
EXR is my Competition pick. I’m impressed by the chart and drill bits are a turning in energy exploration generally.
 
I have no idea what is happening with EXR.

A bit like a bride's nightie. Up n down.

Presently it looks as if it's heading down close to 0.05 or lower.

IMO only.

gg
 
Garpal Gumnut said:
I have no idea what is happening with EXR.

A bit like a bride's nightie. Up n down. Presently it looks as if it's heading down close to 0.05 or lower.
Click to expand...

Yeah the last couple of days reversal was on higher Volume as well. Holding up a bit better today so far.

The 6 cent mark has been a sticking point and it looks like trading around the mid 5's until something changes.
 
EXR is still awaiting some descendant of Genghis Khan to exit his yurt in Mongolia and finish an assay and also await some Yankee drillers to arrive.

gg
 
For the December 2019 Stock Tipping comp.

It is winter in Mongolia right now but the drill bit is still turning. Gassy coals have been encountered but results of assays, new seismic etc. are not yet in. Possibly too early for news that will move the SP, but I am banking on this one doing a brief vertical run when news does arrive.
 
First drill results in Mongolia due in January. Ex Qld Gas and Santos management like it so much they are in to manage. Russia is to supply gas via pipelines across Mongolia to China, a ready market only 400k away from EXR block.
 
Still more defined drill results to be released. Massive lease area. Rio Tinto (mine nearby)have to find an alternate power source by 2023/24 from the current coal fired power station and lease area has direct pipeline access to supply gas to China.
 
Recent fund raising will cover drilling until end of year. SPP swamped by share holders. Multiple wells starting in July. Some pre-drilling could push the share price early plus final results from the first successful drill could be out in June.
 
Price up over 100% in July and I expect it to keep going with additional drilling to expand the current find. First drilling in a seperate area on the lease could commence before the end of this month.

Massive lease with expected CSG customers within Mongolia and just over the border in China.
 
Could have results in October for a different drill area which would be a new discovery (of many to come). A massive lease area.
 
Well that was being drilled in Oct has had to be redrilled after downhole problems. Redrilling tends to indicate resonable confidence in the first location. Redrill is at nominal cost to EXR.
A second rig has started drilling on what is considered a further extension of the current find (it would be massive) or possibly a whole new separate discovery zone.
 
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