new standard investment in elixir petroleum

Im new to this stock getting in at 31c about 4 weeks ago after being in BOW.I like this stock over the next year or two.I plan to hold.
I noticed this announcement out this morning.




2 MARCH 2012 ASX Announcement
NEW STANDARD INVESTMENT IN ELIXIR PETROLEUM
(ASX: NSE)
HIGHLIGHTS
Up to 15% equity stake in Elixir via placements and underwriting of entitlement issue
Provides exposure to emerging conventional and unconventional exploration
prospectivity onshore France


New Standard Energy Ltd (New Standard) has agreed to acquire up to a 15% equity stake in ASXlisted
Elixir Petroleum (Elixir) (ASX: EXR) via a placement and underwriting of an entitlement issue.
The investment will be up to $2.25 million.
Elixir owns 100% of the Moselle Project in the Paris Basin of France which, at 5,360 km2 in area (or
approximately 1.34 million acres), is the largest single exploration block in onshore France with both
conventional and unconventional exploration prospectivity.
New Standard Managing Director Sam Willis said New Standard’s technical team has been reviewing a
number of exploration projects and opportunities as part of the long term growth plans for the company.
Following the technical review of the Elixir acreage, in particular the Moselle Project, an investment in
Elixir met with New Standard’s assessment criteria and longer term strategy.
“This is a strategic investment in a company with a 100% interest in an interesting, but early stage
exploration footprint onshore France. The Moselle Project meets our investment criteria and although
France has its challenges currently, it represents a substantial potential resource located in a market
with robust gas prices and established infrastructure.” Mr Willis said.
New Standard’s up to 15% equity investment in Elixir will be acquired through a combination of a share
placement, entitlement underwriting and a top up placement facility (if required) for an investment of up
to $2.25m (approx). The initial placement at 6.25 cents per Elixir share is unconditional. The total
equity investment and average pricing paid per share will be subject to the outcome of Elixir’s 5 cents
per share underwritten entitlement issue, together with any decision by New Standard to top up its
equity interest to 15% via a top up placement. If it is required, the top up placement will be on the same
terms as the initial placement.
Both the initial placement and the top-up placement facility (if required) will be conducted using Elixir’s
current 15% placement capacity and will not require Elixir shareholder approval.

-ENDS