Elk Research, page-3

This is what is says:
INVESTMENT SUMMARY

ELK recently acquired a c 14% interest in the ConocoPhillips-operated Madden Gas Field, as well as the 310mmscf/d capacity Lost Cabin Gas Plant in Wyoming. This elevates ELK to producer status, with cash flow being generated from Madden methane sales. The Madden field is also a significant CO2 producer, fulfilling ELK’s strategy of CO2 integration, securing supply for future CO2 enhanced oil recovery (EOR) projects. Elk’s Grieve CO2 oil development project is forecast to commence production by late CY17/early CY18 at initial production rates of 1,700 to 2,200bbl/d net to Elk. Our base case 2P NAV stands at A$0.11 with significant upside in the event of oil/gas price recovery and/or incremental reserve/resource recovery above audited 2P estimates.
Last updated on 03/08/2017