Elixir Petroleum Ltd appoints Richard Cottee as Chairman, page-3

Head office is Perth - RC is Brisbane - prospects are in France, Mongolia, Canada - how will that work ? RC's last overseas chairmanship North America began and ended suddenly without explanation. His Australian network connections did not work for him overseas. French prospect is dead result of ban on new exploration by government exploration expenditure now unproductive unrecoverable. Mongolian prospect is at well publicised sovereign risk demonstrated by Rio's experience there. Canada is a " nearology " play. What is reality of infrastructure connections there - is it at risk of being a stranded discovery ? Prospects involve sovereign risk, frontier areas, infrastructure situation likely to produce stranded finds. Extreme high risk losses for naive investors.