Elixir to drill third Pompano well

Elixir Petroleum Ltd. has contracted a rig to drill the third development well at Pompano.

Offshore staff

SYDNEY, Australia -- Elixir Petroleum Ltd. has contracted a rig to drill the third development well at Pompano.

The Pompano Project is in shallow waters offshore Texas and currently produces 15 MMcf /d of gas and 50 b/d of condensate from two development wells which are tied back to a production platform.

Elixir has 25% working interest in Pompano, Buccaneer Petroleum Ltd. has 65%, Baron Petroleum Inc. has 7.5%, and Streamline Exploration Inc. has 2.5%.

06/25/2008

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