I believe Singteton will only be started after Grieve is up and running. On their website it states they signed a contract for CO2 which should have started receiving at the end of 2016. Note this may not be the case they haven't update their website.
From their website under the Singleton project... The Singleton Unit was acquired as the basis for a future CO2 project for Elk to implement after the company receives fee cash flow from the Grieve project, or sooner if alternative funding can be arranged for the project...
...Elk signed a CO2 supply contract with Bridgeport Ethanol LLC at the end of 2013 that will provide the source of the CO2 for the project. The CO2 contract is for ten years, with CO2 purchases starting in late 2016. The agreement includes a lease option on a 5-acre parcel adjacent to the Bridgeport ethanol plant where the CO2 dehydration and compression facilities would be constructed.
I did notice a spike up to 8c today which I found interesting. It may be investors taking the punt on ELK with expectation that oil will flow at Grieve at the end of the year.
ELK Price at posting:
7.9¢ Sentiment: Hold Disclosure: Held
