ELK 0.00% 1.4¢ elk petroleum limited

ELK Material Upside, page-3

  1. 1,723 Posts.
    Lefevre

    good points, but note ( Carmichael report), Elk's debt is free carried:

    "Second tranche Denbury funding facility activated. The tranche one free-carry funding arrangement (US$10m) with JV partner Denbury Resources (DNR) has reached its capacity and ELK has elected to proceed with the tranche two funding arrangement with DNR
    (US$12m) which ELK will payback from Grieve oil production. We estimate this is equivalent
    to ~12 months of production but ensures ELK is fully funded for Capex to first oil."

    I think Elk's debt to Denbury has been reported on, currently about $18m, I think.

    But whatever, is this is an incentive for them to buy Elk cheaply?

    Also re.previous putative pipeline sale, I think copperpot's number represented at least what this may be worth to Denbury.

    Comments and corrections welcome.
 
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