ELIXIR ENERGY LIMITED — Director's Dealing 2010

Nov 28, 2010

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity ELIXIR PETROLEUM LIMITED ABN 51 108 230 995

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Andrew Ross
Date of last notice	11 July 2008

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	R11 Capital Pty Ltd as trustee for R11 Consulting Trust Mr Ross is a Director and potential beneficial holder of R11 Capital Pty Ltd
Date of change	29 November 2010
No. of securities held prior to change	R11 Capital Pty Ltd as trustee for R11 Consulting Trust 35,000 Fully Paid Ordinary Shares 1,250,000 Unlisted Employee Options, exercisable at $0.30, expiry 31/03/2012 1,250,000 Unlisted Employee Options, exercisable at $0.35, expiry 31/03/2013
Class	Ordinary
Number acquired	355,000
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$29,580.00

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change	R11 Capital Pty Ltd as trustee for R11 Consulting Trust 390,000 Fully Paid Ordinary Shares 1,250,000 Unlisted Employee Options, exercisable at $0.30, expiry 31/03/2012 1,250,000 Unlisted Employee Options, exercisable at $0.35, expiry 31/03/2013
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	On market trade

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002