GAWLER RESOURCES LIMITED(GRL)

delisted following lodgement of the court order approving the schemes of arrangement between the Company and its share and option holders for merger with Elixir Petroleum Limited

we understand that under the merger scheme, Gawler shareholders received 1 Elixir Share for every 1 Gawler Share held and Gawler Optionholders received 1 unlisted Elixir option exercisable at $0.001 for every 5 Gawler Options held - Gawler then became a wholly owned subsidiary of Elixir and part of the Elixir Group - we also believe that there was a proposal for a demerger of Gawler's existing mineral exploration assets into a new company to be owned by Gawler shareholders (including Elixir) - it was intended that the new company would undertake an IPO and that Gawler shareholders will receive an in-specie distribution of shares in the new company along with a priority share allocation to subscribe for additional shares in the IPO (we will report further on this)

we understand that on or about this date the company undertook, proposed to undertake or was the subject of the following corporate action: - merge with Elixir - this corporate event may appear elsewhere in this company record

shares suspended from quotation - the company confirms that the court order approving the schemes of arrangement between Gawler and its share and option holders has been lodged with the Australian Securities and Investments Commission

in accordance with the agreed funding facility that Elixir is providing Gawler to progress the latter's Gulf of Mexico High Island oil and gas project, Elixir has subscribed for a share and option placement in Gawler totaling 12,487,500 shares at $0.20 per share and an equivalent number of options at $0.01 per option (exercisable at $0.20 before 31 March 2009) - these placements raised approximately $2.6 million for Gawler and increased Elixir's shareholding in Gawler to 20%