Elixir Petroleum identified significant potential for hydrocarbons within the Triassic and Carboniferous Sections. Consulting reserves auditors, Netherland, Sewell & Associates have completed an independent evaluation of the Moselle Permit and have prepared an estimate of both conventional and unconventional undiscovered original hydrocarbons in-place within the Moselle Permit (5,360 km2). NSAI has provided an unrisked gross unconventional undiscovered original oil in place and original gas in-place best estimate (P50) within the Carboniferous Section of the Moselle Permit of 164.7 Gbl of oil and 18,400 bcm of gas. NSAI have provided a combined mean unrisked gross conventional undiscovered in-place hydrocarbon volume in the Moselle Permit of 2.1 Gbl of oil or, alternatively, 62 bcm of gas.
Elixir considers the identified conventional prospects as ‘drill ready’ and intends to immediately commence planning, procurement and permitting for up to a three well programme targeting high graded conventional prospects to be drilled in 2012.