Spud Date for Guinea Well Pushed Back

Elixir Petroleum Limited provides a revised spud date for the upcoming Guinea well in offshore UKCS Block 15/13b.

The Company has been advised by Nexen that due to ongoing operations with the Borgsten Dolphin on the current well in Block 20/1, the rig is now estimated not to be moving to the Guinea location until January 14, 2007.

This date is subject to revision, particularly if poor North Sea weather conditions continue to adversely affect operations across the region.

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