ELIXIR ENERGY LIMITED — Director's Dealing 2004

Oct 17, 2004

Appendix 3Y

Rule 3.19A.2

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	Donald George Maloney
Date of last notice	23 July 2004

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	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change	7 October 2004
No. of securities held prior to change	350,000 Fully Paid Shares 250,000 20 cent, 30 June 2007 options
Class	Fully Paid Ordinary
Number acquired
Number disposed	10,000 Fully Paid Ordinary
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$8,900
No. of securities held after change	340,000 Fully Paid Shares 250,000 20 cent, 30 June 2007 options

⁺ See chapter 19 for defined terms.

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
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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.

$+$ See chapter 19 for defined terms.