Elixir Petroleum Limited announced that it has executed a binding terms sheet for an option to acquire Golden Horde Limited (GOH) for consideration of 79 million Elixir shares. Upon completion of the acquisition, Mr. Neil Young will join the board of Elixir Petroleum Limited as an executive director and chief executive officer. Neil has a business development and commercial background and is the managing director of GOH.

He has worked in the energy industry for over 20 years, including being manager business development at Santos where he was a key leader in the Santos team that put together much of the Australian east coast CSG acreage that the company now operates.