ELIXIR ENERGY LIMITED — Capital/Financing Update 2012

Apr 4, 2012

ASX ANNOUNCEMENT

==> picture [49 x 65] intentionally omitted <==

==> picture [54 x 65] intentionally omitted <==

==> picture [31 x 65] intentionally omitted <==

==> picture [49 x 65] intentionally omitted <==

==> picture [54 x 65] intentionally omitted <==

==> picture [32 x 65] intentionally omitted <==

ABNN 51 108 230 995

4 April 2012

Compa n y Announcements Pl a tform Australi a n Securiti e s Exchang e Level 4 20 Brid g e Street SYDNE Y NSW 20 0 0 By E-Lodgement

Entitlement Issue Closure and Notice of Shortfall

Elixir P e troleum Li m ited (ASX : EXR) (Co m pany) advises that it s non-reno u nceable e n titlement issue to subscribe f or 1 new s h are for ev e ry 6 share s held at a n issue pric e of $0.05 p er share closed o n 30 Marc h 2012.

The res u lts of the E ntitlement issue are a s follows:

A pplication s validly received from eligible sh a reholders: 392 T otal numb e r of new o r dinary sha r es applied for: 24,217,710 T otal funds raised (bef o re costs o f the issue) : $1,210,885

The re m aining shortfall of 9,928,407 sh a res will b e issued to New Stan d ard Energ y Limited (ASX:N S E) pursua n t to an un d erwriting agreement d ated 1 Ma r ch 2012 b e tween NS E and the Compa n y, which w i ll raise an a dditional $ 4 96,420 (b e fore costs of the issu e ).

New St a ndard Ene r gy Limited have been notified of t he shortfall. It is anti c ipated that holding st a tements will be despa t ched to sh a reholders o n, or arou n d, 5 April 2012.

Yours fa i thfully, ELIXIR PETROLEUM LIMITED

Julie Fo s ter Company Secretary

==> picture [40 x 16] intentionally omitted <==

==> picture [47 x 16] intentionally omitted <==

For further information on Eli x ir Petroleum please visit the C ompany's web s ite at www.eli x irpetroleum.co m

ASX CODE: EXR Elixir Petroleum Limited

www.elixirpetroleum.com

Level 20, 7 7 St George’s T e rrace PERTH W A 6000, AUSTRALIA T: +61 8 9 4 40 2650 F: +61 8 9440 2699 E: info@elixirpetrol e um.com