Elixir Petroleum to snap up Golden Horde
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Energy junior, Elixir Petroleum (ASX:EXR), has exercised its option to acquire Golden Horde Limited (GOH).
GOH was awarded the Nomgon IX Coal Bed Methane (CBM) Production Sharing Contract (PSC), located within Mongolia's South Gobi Desert, in September this year.
A pathway will be cleared for completion of the acquisition upon EXR shareholder approval to issue 79 million consideration shares.
The decision was made in accordance with the binding terms sheet signed in October 2017 and extended and amended in September 2018.
Following last week’s announcement of the option granted to Entek Energy (ASX:ETE) to acquire EXR’s Alaskan portfolio of assets for up to 200 million Elixir shares, EXR will now turn its attention back to the high-impact Mongolian CBM opportunity it identified over a year ago.
EXR and GOH's initial exploration activities are now well-advanced in preparation for an active exploration program next year, which has been designed to de-risk and prove up the identified potential giant resource proximate to the Chines border.
As previously announced by EXR, Neil Young will join the company as CEO on completion of the Mongolian transaction. Young is currently the Managing Director at GOH, has a 100% working interest in the Nomgon IX CBM PSC, and has worked previously with Australian energy company, Santos.
The Nomgon IX CBM PSC has been the subject of a recent independent prospective resource report, which verified the world-class potential of the PSC area and determined a risked prospective resource of 7.6 TCF of gas.
Closure of the Mongolian acquisition will be another key milestone for EXR, and the company will update the market as things progress.
General Information Only
This material has been prepared by Jason Price. Jason Price is an authorised representative (AR 000296877) of 62 Consulting Pty Limited (ABN 88 664 809 303) (AFSL 548573) (62C), and a Director of S3 Consortium Pty Ltd (trading as StocksDigital).
This material is general advice only and is not an offer for the purchase or sale of any financial product or service. The material is not intended to provide you with personal financial or tax advice and does not take into account your personal objectives, financial situation or needs. Although we believe that the material is correct, no warranty of accuracy, reliability or completeness is given, except for liability under statute which cannot be excluded. Please note that past performance may not be indicative of future performance and that no guarantee of performance, the return of capital or a particular rate of return is given by 62C, Jason Price, StocksDigital, any of their related body corporates or any other person. To the maximum extent possible, 62C, Jason Price, StocksDigital, their related body corporates or any other person do not accept any liability for any statement in this material.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
