Research, Charts & Company Announcements
Research Tree offers ELK PETROLEUM LTD research coverage from 1 professional analysts, and we have 2 reports on our platform.
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Research reports on ELK PETROLEUM LTD
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Grieve fully funded
26 Aug 16
Elk Petroleum has completed the restructuring of its JV agreement with Denbury Resources for its 12.3mmbbls 2P Grieve enhanced oil recovery (EOR) project. A substantial equity plus debt injection in June/August 2016 will fund the Grieve project to first production in late 2017 or early 2018, with Denbury covering any cost overruns. Including additional equity from a shortfall placement, we estimate a base case valuation for Elk based on 2P reserves of A$0.15/share, with upside from both 3P reserves (an additional A$0.06/share) and 3C contingent resources (an additional A$0.17/share).
EOR delivering in a down-cycle
04 May 16
Elk Petroleum (ELK) is developing the Grieve CO2 enhanced oil recovery (EOR) project in Wyoming. ELK sees its current US activities as providing a platform for leveraging its EOR expertise to create scalable growth, both in the US and overseas. Grieve, in production from late CY17, is expected to be strongly cash generative and will help fund growth.
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