EXR Future out look, page-16

A few salient quotes from the AR

"As mentioned in last year’s letter, the marketing of any gas produced remains as having many local off-takers available, and if that is not enough, the insatiable Chinese market is only 400 kilometres away to that country’s main gas trunk line, through sparsely populated regions.

An asset of the size of the Nomgon IX PSC provides opportunities to bring in one or more partners. The de-risking that the appraisal process is intended to demonstrate should provide comfort to such parties in subsequent farm-out negotiations with Elixir.

CSG exploration is much less capital intensive than other forms of petroleum exploration and at this stage Elixir is merely creating options over a farm-out campaign rather than foreseeing a requirement that it has to do so.

Forming partnerships does not need to only happen at the field level – and we have demonstrated that this year with the announcement of the execution of a Memorandum of Understanding with Mongolia’s MT Group (one of the country’s largest fuel retailers) over the possible development of a small scale LNG plant".