I get a warning which says *Battery Exhausted*. I've replaced them but still get the warning.. Any idea whats wrong?

Earlier i posted solution in similary problem. maybe help you this.

solution is good batteries, Ni-Mh or Lithium, rechargeable only not alkaline. but...problem is how long you watch pictures on lcd display or how much is flash in use. if always by shooting pics used flash that means that you can with best batteries 30, 20 or less pics shooted. and of course, if you connect camera with pc, how long is cam on? just transfer pics on pc and turn the camera off. the best solution is use the card reader for pics transfering.
if is flash off, it's possible to shot 120-150 pics with Ni-Mh. with lithium i don't know, maybe 500 pics. don't use camera lcd for analysing pics it's just there for short preview.
with alkaline batt., very low quality, i shot 30 pics without flash.

i shot also very good pics at night without flash. nikon coolpix L15 can do that but you must have more praxis. alkaline batteries shooting!
after 3 pictures on display is message: warning! the battery is exhausted. what you can do? turn the camera off. wait about 10 minutes. turn the camera on, you can shot 3 or 5 pictures and than turn your camera off again.
you can repeat this few times and you be lucky if you 30 pics captured:)
REMEMBER: all this goes without camera flash!!!
flash and every zooming use more battery power! and that was all magic:).