Half Year Report and Accounts
Elk Petroleum Ltd (ELK) has released its half year report and accounts. The report will also be made available on the company’s website www.elkpet.com.
The highlights for the period are as follows;
- Negotiations with ExxonMobil for the supply of CO2 resulted in the agreement being signed in January 2011.
- Funding for the Grieve CO2 enhanced oil recovery project is being sort via joint venture and/or debt funding.
- Sand Draw South was sold in October 2010 for US$5.45 million (gross).
- Following the sale of Sand Draw South, the Revolving Line of Credit facility has been retired and the Company is debt free.
- Ash Creek field re-development was completed with commissioning of wells and facilities awaiting connection of power to the field.
- Planning for a Grieve Niobrara appraisal well commenced with the farm-out scheduled for mid-2011.
- Worley Parson engaged to conduct a feasibility study to utilise the Hereford gas discovery in Montana.
- There were changes to the Board in September and October 2010.
- The Company is pursuing a number of acquisition opportunities.
Download this document
