moving up, page-4

re: moving up-up 8.3% so far... Hi Brantley

I think it's amazing to see this stock perform the way it has. It's been right off the radar for Australian investors and even now the market action is relatively subdued IMHO for a stock with its leverage to new discoveries in its North sea blocks.

As I read somewhere either on this forum or an oil company presentation " the best place to find oil is near where they have already found oil". To my way of thinking, the North Sea acreage that Elixir possesses has incredible potential value to them on a per share basis. The upcoming Jaguar well has an enormous payoff if hydrocarbons are present. As you probably know, we are talking around $10+ per share. Downside on failure would be back to the 45cent range in my opinion.

I have also developed a significant respect for the technical credentials of EXR's partners in the Jaguar well. DNO (Norwegian oiler) have a recent string of exploration successes (including with OSH in Yemen)and their other partner Rocksource has one of the best petrophysicists as its CEO. They both farmed in to the prospect at a significant premium of 1.54 times the percentage cost. All that does not deliver oil, but it adds more confidence to me on the technical merits of the prospect.

Do your own research.

Regards
DF