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Memories of BCC. Good to hear pressure buildup to plan but still...

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cmonaussie

6,312 Posts.

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03/03/17

12:49

Post #: 23076389
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Originally posted by danpech ↑

Hi Cmon, long time no speak.

I had noticed that too but it is not an issue.

The date Denbury state as first production by mid 2018 is the LATEST date they can contractually have the oil flowing before they pay penalties. All is on track at this stage for production start up per Elk's guidance. The pressure buildup in the reservior is as projected and even slightly ahead and there is the capacity to increase CO2 injection to 60mmcfgpd if needed.

As there is some further construction work to be completed there still is some development risk on the table but the Denbury statement is not an issue.... I believe ELK will confirm their current guidance when they report the half yearly results.

Cheers

Dan

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Memories of BCC. Good to hear pressure buildup to plan but still (for me) find the divergence a concern. Not about the penalties but the forgone earnings between mid 17 and mid 18.

Whose law is it that says something like the time it takes it to complete a task is at least equal to all the time allowed for it ....

ELK Price at posting: 7.5¢ Sentiment: None Disclosure: Not Held
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