ELIXIR ENERGY LIMITED — M&A Activity 2007

Oct 24, 2007

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Telephone: +61 8 9440 2650 Facsimile: +61 8 9440 2699

25 October 2007

Company Announcements Office ASX Limited

By e-Lodgement

Dear Sir / Madam

FEDERAL COURT APPROVES GAWLER SCHEMES OF ARRANGEMENT FOR MERGER WITH ELIXIR

The Federal Court has earlier today approved the schemes of arrangement between Gawler Resources Limited (“Gawler”, ASX:GRL) and its share and option holders.

Gawler share and option holders voted to approve the schemes of arrangement on 19 October 2007, as announced by Gawler on that date.

Gawler will now proceed to extract the order from the Federal Court and will make an announcement prior to lodgement of a copy of the court order with the Australian Securities and Investments Commission ("ASIC"). The date of lodgement of the orders with ASIC will be the last day of trading for Gawler and trading in Gawler shares and options will be suspended on the ASX.

The announcement envisaged above will also inform security holders of the Record Date for determining entitlements to Elixir Petroleum Limited shares and options as well as the ensuing dates for the implementation of the schemes.

Yours sincerely

Gawler Resources

Alex Neuling COMPANY SECRETARY

This report contains some references to forward looking assumptions, estimates and outcomes. These are uncertain by nature and no assurance can be given by Gawler that its expectations, estimates and forecast outcomes will be achieved.

Gawler Resources Ltd Level 20, 77 St Georges Terrace, Perth WA 6000 GPO Box 2530 Perth WA 6001