Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on ELK PETROLEUM LTD. We currently have 2 research reports from 1 professional analysts.
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Research reports on
ELK PETROLEUM LTD
ELK PETROLEUM LTD
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.
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
The Monthly January 2017
09 Jan 17
Despite all the hullaballoo of the Brexit vote and the subsequent election of Donald Trump as the next US President, the UK stock market prospered last year, especially in the latter few months of 2016. The combination of a depreciating currency – making $ earnings more valuable in relative terms - and the Trump emphasis on infrastructure expenditure drove the stock market higher
Small Cap Breakfast
17 Jan 17
Global Energy Development (GED.L) — To be renamed Nautilus Marine Services. Schedule 1 from developer and seller of hydrocarbons and related products. Reverse takeover. Raising $10.5m via a convertible. Expected 9 Feb. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January.
Minor delay but lower cost and better visibility enhance the investment profile
13 Jan 17
First oil at Stella is delayed by about a month, reducing the contribution of Stella to FY17 production by the same period. While this has an impact on FY17e free cash flow, this is negligible to our valuation. More importantly, FY17 opex are estimated at only US$18/boe, below our estimates of US$20/boe. There are opportunities to reduce opex further. Harrier is expected to reach first oil in 2018, one year earlier than we expected and at a cost of US$40 mm lower than we anticipated. The overall development cost is less than US$6.0/boe. Ithaca holds numerous discoveries around Stella that would be developed with a similar cost structure to Harrier.