Elixir Continues Talks to Acquire 57.5% Stake in WA's Cliff Head Oil Field

Elixir Petroleum Limited, a Perth-based oil and gas exploration firm with operations in the U.S. and France, announced Wednesday that the company and AWE Limited (the Parties) continue to work towards execution of an agreement for Elixir to acquire a 57.5 percent Working Interest in the producing Cliff Head oil field located in the Perth Basin, offshore Western Australia (Acquisition).

Progress continues to be made on a number of key commercial and legal matters that need to be addressed to the satisfaction of all the parties involved.

Elixir Petroleum entered into the agreement to acquire the Cliff Head field, located around 186 miles north of Perth, with AWE in October 2015.