Elixir gets Leopard prospect license term extension

The UK Department of Energy and Climate Change has agreed to a four-month extension of Elixir Petroleum's license term on block 211/18b (Leopard prospect) to April 21.

Offshore staff

LONDON -- The UK Department of Energy and Climate Change has agreed to a four-month extension of Elixir Petroleum's license term on block 211/18b (Leopard prospect) to April 21.

The extension to the license term will provide Elixir additional time to complete the farm out of the unfunded portion of the planned Leopard exploration well.

The Leopard prospect, which is located in the northern sector of the UK North Sea, is one of the largest remaining undrilled oil targets in the North Sea, with a mean prospective resource estimate of approximately 350 MMbbl.

01/09/2009

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