Elixir completes acquisition of Gold Horde to set up Mongolian program
Dec. 17, 2018
Elixir Petroleum Ltd., Perth, completed its acquisition of Golden Horde Ltd. for 79 million Elixir shares to set in motion an exploration program in southern Mongolia (OGJ Online, Sept. 19, 2018).
Golden Horde owns a 100% working interest in the Nomgon IX coal bed methane production sharing contract which has independently verified risked prospective resources of 7.6 tcf of gas (OGJ Online, Nov. 21, 2018).
With the acquisition completed, Elixir will accelerate its exploration of the Mongolian CBM play identified by Elixir in 2017. Since that time Elixir and Golden Horde have been preparing for an active 2019 exploration program designed to de-risk and prove up the potential giant natural gas resource that lies close to the border with China.
Elixir recently appointed Neil Young, a CBM manager formerly with Santos, as the company’s chief executive officer to lead the Mongolian project.
