ELP Elixir Pet.

    RNS Number : 2594X
  Elixir Petroleum Ltd
  23 June 2008
   
    Elixir Petroleum Limited
    (AIM : ELP)

    23 June 2008

    BLOCK SL-4 UPDATE

    Elixir Petroleum Limited (*Elixir*), the international oil and gas exploration and production company (ASX:EXR, AIM:ELP), is pleased to
announce the completion of a 1,222 km2 3D seismic acquisition programme over Block SL-4, located offshore Sierra Leone.

    The survey was completed on time and on budget. The seismic vessel has been released from the location and we are advised the final
field tapes were received by the seismic contractor in the UK last week. Processing of the 3D data set has commenced and it is expected that
the final processed data set will be available before the end of 2008. The data set will then be interpreted by Elixir as Operator during
the first quarter of 2009.

    Commenting on the announcement, Elixir's Managing Director, Andrew Ross said:

    "As recently appointed operator of Block SL-4, we are delighted that the first in-field activities have been successfully completed on
time and on budget. The newly acquired 3D data will allow us to better refine the play types and very large targets previously identified
from the existing high quality 2D seismic data set. 

    "We look forward to reporting further progress on Block SL-4 in the coming months."

    Elixir is the only ASX listed participant in Block SL-4 with beneficial interests as follows:

 Elixir Petroleum* (Operator)  15.0%
 Elixir Petroleum Option       20.0%
 Equity�
                                    
                               35.0%

    * Interest is held indirectly via its shareholding in a wholly-owned subsidiary.
    � If Option is exercised, interest will be held by Elixir via its shareholding in a wholly owned subsidiary. If Option is not exercised,
interest will be retained by Prontinal Ltd.

 For further information, please visit the Company's website at www.elixirpetroleum.com, or contact:
                                                                                                                
 Elixir Petroleum Limited                                                                Blue Oar Securities Plc
 Alex Neuling                                                                           Jerry Keen / Olly Cairns
 Tel: (+61) 8 9440 2650                                                   Tel: (+44) 207 448 4400 / (+61) 8 6430
                                                                                                            1631
                                                                                                                
  
 Conduit PR
 Jonathan Charles / Sarah Alexander
 Tel: (+44) 207 429 6666


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