$Elixir Energy Ltd(EXR.AU)$ I have been waiting for the end of the week to share this. Oil price has come down substantially over the week, have been wondering if the share price will correct or stand strong enough in the face of correction.

It's still here so I share. I have not shared this counter before. It's something that I had held for a while. A wild card, if you must give the winner a name.

I first become interested in EXR not for its Queensland oil and gas project. It was in fact exploring gas in 🇲🇳 Mongolia! Yes, next to 🇨🇳 China. I thought what a market that must be. I bought an interest, nothing happened in Mongolia and I simply left it. The next thing I know, the company got itself into Queensland, Australia 🇦🇺. In Taroom Trough... I have never heard of the place. A lot of people probably are like me. I just know it's neighbours are Shell, which acquired BG and Omega. 

With Queensland exploration moving along, the company, for cost and practical reasons, decided to drop the ball on Mongolia. It is of course understandable for a smallish miner such as EXR.

The gas testing comes and goes. I like what I see but not the market. Its share price goes down and down. What I get is a timetable of further testing. I have even attended its CEO's investors forum to hear his explanation of "why market was not happy with the initial test outcome".

I like the result and don't mind his explanation. I bought more... it's easy when the price is beaten down and nobody wants a part of it. Whatever I bid, I get! 

Fast forward to today. What a year or tw/o could mean for a company. Same company, more test results- frankly I don't see much difference. The US-Iranian war (funny how we forget Israelis are the ones who started it), Strait of Hormuz blockage, sudden shortage of fuel oil. Suddenly, the politicians in Queensland are talking up Taroom Trough! More news articles start to appear, calling it the "sea of oil"!? Funnily, fancy linking the size of the area to the size of Singapore 🇸🇬! When everyone starts to run low of oil, the real supply chain takes a bow! Singapore, a country with no oil of its own, becomes the king of refined "black gold"! 

Anyway, this article is about EXR and Taroom Trough. Within a span of a month, perhaps slightly over a fortnight (April's story), EXR through the blessing of Taroom Trough news coverage, exploded! It hits 17.5 cents on Tuesday before correcting back to 14.5 cents. Remember, its share price was below 10 cents for a long time. It was only 4 cents end of last year... in fact I had two purchases around 2.5 cents... what a day and night difference this has been!

Just to set the record straight, my initial entry price was 15 cents, higher than today's ending price. That was done in early 2023... so I was not joking when I mentioned it went into correction... it was not something everyone would look at me and think that I have done well by NOT cutting losses... as I said, I visited and revisited its various progress even when I was not particularly concerned about its direction. Oil and gas, even with the on-going green evolution, I feel, would still go on for sometime. Warren Buffett actually gave me that confidence in his investment in Occidental Petroleum and Chevron. Berkshire just kept adding to Occidental when it could! To me, it's a clear sign that I should keep oil and gas as a portion of my portfolio. 

Call me stubborn... call it luck 🍀 I have gas... and oil from my other investments. How about that? Prices go up, I suffer at the pumps, happy in the bank 🏦! Price goes down. I maybe a little sad in the bank 🏦, but my cashflow increases with less spending money at the pumps! I see both as a win! [LOL]  [Tongue] 

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