Good Find Lawrence1967Thought it worthwhile starting a new...

Good Find Lawrence1967

Thought it worthwhile starting a new thread to keep track of this one.

As always not investment advice DYOR

In a nutshell the whole Elixir operation is in very good company!

Here Goes..

Article by Perth Mining Weekly

https://www.miningweekly.com/article/hgm-shifts-focus-to-csg-2020-07-07

“PERTH (miningweekly.com) – ASX-listed gold andcobalt explorer High Grade Metals (HGM) has announced a move into the coal seamgas (CSG) sector.

HGM on Tuesday announced that it had inked abinding agreement to acquire unlisted Jade Gas, which holds a 60% interest in ajoint venture (JV) vehicle with Mongolian State-owned enterprise ErdenesMethane, which in turn holds a production sharing agreement with the MineralResources and Petroleum Authority Mongolia, to explore and exploit CSG over theTavan Tolgoi coalfield.

Under Jade’s investment agreement with Erdenes, thecompany must sole fund the project towards a completion of a definitivefeasibility study, at which time both parties would continue to fund theproject on a pro rata basis.

As part of the transaction, HGM will undertake afive-for-one share consolidation prior to issuing more than 826.1-millionordinary shares to the shareholders of Jade.

HGM will also issue 68-million options, with afour-year term and a strike price of 4.5c each.

As part of the re-compliance process, the companywill issue a prospectus with the aim of raising up to A$6-million through theissue of shares at a price of 3c each, post the proposed share consolidation.

Meanwhile, HGM on Tuesday also announced theappointment of Dennis Morton as a nonexecutive director to thecompany’s board.

Morton is a geologist with substantial oil and gasindustry experience and is the founding CEO and MD of Eastern Star Gas, whichwas acquired by major Santos in 2011

The appointment was made in advance of theanticipated acquisition of CSG projects, HGM said.”

Galilee’s(Present) MD Peter Lansom was formerly of Eastern Star Gas which was sold toSantos for $900m after booking 1520 PJ 2P reserve.

Peter Lansom B.E. Petroleum (Hons)

Managing Director

Appointed: Managing Director on 30October 2013.
Non-executive director on 24 September 2013.

Peter holds a Bachelor of PetroleumEngineering (Honours) degree from the University of NSW and has over 25 yearsexperience in conventional and unconventional exploration and development,working with Comet Ridge Ltd, Eastern Star Gas (ESG), Origin Energy and Santos.He has significant expertise in subsurface engineering, asset valuation, fielddevelopment planning and commercial and corporate finance. In his pastrole at Origin, in the key management position of chief petroleum engineer, hehad responsibility for delivering the corporate year end petroleum reservesreport and ensuring that consistently high standards in sub-surface engineeringwere maintained across that company’s assets. In his recent role as executivedirector at ESG, Peter had overall engineering responsibility for theexploration and pilot development of the company’s CSG assets in NSW whichresulted in certifying 3P reserves of over 3500 PJ over a 5 year period, andsaw the company grow to a $900 million market capitalisation.

Stephen Kelemen is a Non-Executive Director ofGalilee Energy and a Non-Executive Director of Elixir Energy

Stephen Kelemen B.E. (Mechanical)
Non-executive Director

Appointed:Non-executive Director on 31 March 2018.

Stephen has a B.E (Mechanical)from the University of Adelaide. He has a diverse petroleum industry experienceacross reservoir, development, operations and exploration developed through his38 year career with Santos Ltd. Notably he led the company in gaining afoothold in CSG and other Unconventionals, including the 2005 acquisition ofTipperary Oil & Gas, the concept of CSG to LNG and evaluating plays andacreage with the potential to deliver reserves.

Stephen is a non-executivedirector of Advent Energy and Elixir Petroleum. He is an AdjunctProfessor for CCSG (Centre for Coal Seam Gas) at UQ, and Deputy Chair –Petroleum for Queensland Exploration Council and a member of Core Energy &Resources Pty Ltd Technical Advisory Council. He has been Chairmanof SPE Australian/NZ Council, Chairman SA Section of SPE, member APPEAOperating and Safety Committee, President of QUPEX, and member CCSG StrategicAdvisory Board.

.
Attached latest PDF on Elixir

.

SS001.pdf


Regards

OGP