ELIXIR ENERGY LIMITED — Director's Dealing 2011

Jul 21, 2011

ASX ANNOUNCEMENT

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----- Start of picture text ----- ABN 51 108 230 995----- End of picture text -----

22 July 2011

Company Announcements Platform Australian Securities Exchange Level 4 20 Bridge Street SYDNEY NSW 2000 By E-Lodgement

BOARD UPDATE

Elixir Petroleum Limited (“Elixir” or the “Company”), the international oil and gas exploration and production company (ASX:EXR) advises that in order to comply with Recommendation 2.1 of the Corporate Governance Principles and Recommendations published by the ASX (the “ASX Guidelines”), Mr Iain Knott has agreed to step down as an executive director of the Elixir Board. Mr Knott will continue to work for Elixir in the role of Exploration Manager, with technical responsibility for the Company’s exploration activities.

As a result of change to the Board, Elixir now has a majority of independent non-executive directors which satisfies the requirements of Recommendation 2.1 of the ASX Guidelines.

Please find attached an Appendix 3Z.

Yours faithfully,

ELIXIR PETROLEUM LIMITED

Julie Foster Company Secretary

ASX CODE: EXR www.elixirpetroleum.com

Elixir Petroleum Limited

Level 20, 77 St George’s Terrace PERTH WA 6000, AUSTRALIA T: +61 8 9440 2650 F: +61 8 9440 2699 E: info@elixirpetroleum.com

Appendix 3Z Final Director’s Interest Notice

Rule 3.19A.3

Appendix 3Z

Final 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.3 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of director	Iain Knott
Date of last notice	11 July 2008
Date that director ceased to be director	22 July 2011

Part 1 – Director’s relevant interests in securities of which the director is the registered holder

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.

Number & class of securities

1,750,000 Unlisted Employee Options

-1,000,000 exercisable at $0.30 (Expiry date: 31/03/2012)

-750,000 exercisable at $0.35 (Expiry date: 31/03/2013)

• See chapter 19 for defined terms.

Appendix 3Z Page 1

11/3/2002

Appendix 3Z Final Director’s Interest Notice

Part 2 – Director’s relevant interests in securities of which the director is not the registered holder

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.

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

	Name of holder & nature of interestNote: Provide details of the circumstances giving rise tothe relevant interestN/a	Number & class of securitiesNil

Part 3 – Director’s interests in contracts

Detail of contract	None
Nature of interest	n/a
Name of registered holder(if issued securities)	n/a
No. and class of securities towhich interest relates	n/a

• See chapter 19 for defined terms.

Appendix 3Z Page 2

11/3/2002