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ELK, ELK PETROLEUM LIMITED
davo22
post Posted: Jan 23 2009, 09:56 AM
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Things should start happening soon....

5-6 Feb - Elk taking its exploration assets to NAPE to farmout....

10 Feb - Exxon fronts Wyoming O+G commission........co2 venting salt creek......will have to explain why they will need to vent another 70mmcf (Rancher about to go bust) above what the commission was seeking to be captured.....

Feb - Uni results for Chemical flooding due

April - drilling indian acreage.......


Cheers

 
davo22
post Posted: Sep 5 2008, 10:10 AM
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production at SDS was down from 6219bo to 5741bo, a drop of 480b.......= 190bopd.....at the time crude was trading about $120us.......now trading just below $90us or around $110aus......SDS crude is heavy and trades at a discount...Greive is light sweet...all Rocky crude trades at a slight discount to WTI......

Production at Greive for the month was 646bo....approx 21.5bopd....as apposed to 118 barrels the month prior...a rise of 525bo.....given the wild fluctuations that continually happen with Greive production numbers I can only assume that production from one month sometimes does not get accounted for until the following month?????????......production is most likely a constant 11bopd roughly.....

cheers

 
davo22
post Posted: Aug 27 2008, 04:19 PM
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In reply to: diana on Wednesday 27/08/08 01:45pm

either someone was sick of waiting to get in........they think news is at hand...or they were trying to create a bit of interest from buyers in order to dump their shares.... ?????????

I doubt it will go anywhere without news......


 
diana
post Posted: Aug 27 2008, 12:45 PM
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I'm thinking there must be some news imminent ... a sudden burst of activity and up 9c. Only 60,000 vol though so it looks more like a bit of a leak close to the company. It's high time ELK got cracking. The junior oilers definitely haven't benefited from the POO ... yet.
R/Di



--------------------
"Adversity does not build character; adversity reveals character."
Sandy Dahl
 
foolsgold
post Posted: Jul 31 2008, 04:26 PM
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In reply to: davo22 on Thursday 31/07/08 04:11pm

Yes, excellent quarterly, good results as expected and it looks like a win/win situation for ELK on the C02 flood as they put pressure on the C02 providers by looking for alternatives. I didn't know that there was a possibility of C02 flood for Ash creek, this is excellent news and something else to look forward to.

 
davo22
post Posted: Jul 31 2008, 04:11 PM
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Quarterly out......

Good to see they are exploring chemical floods....if the co2 doesnt come through we have a plan B.....From my understanding a chemical flood would yeild around 70% of the oil that a co2 flood would......however the costs are considerably less...also the ability to run a pilot project would allow ELK to book 2p reserves and allow them to secure finance....they would be in a position to retain a larger % of the field....So it looks as though the net oil attributed to ELK may be similiar regardless of whether it is a co2 flood or a chemical flood.... smile.gif

Based on those numbers the potential recoveries at Ash Creek from a chemical flood could also be very promising....

Cheers

 

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macrae
post Posted: Jul 11 2008, 01:23 AM
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In reply to: davo22 on Thursday 10/07/08 05:47pm

Chart below: cool.gif
Attached image(s)
Attached Image

 




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<b>"The higher a monkey climbs, the more you see of his behind." </b>
 
davo22
post Posted: Jul 10 2008, 05:47 PM
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ELK is keeping good company.....Jonah is one of the multi TCF gas fields producing from the lance formation....the outback is significantly shallower than Jonah..so will be much cheaper to develop if the gas proves economical..and is a similiar surface area...at even a proportion of the recoverable gas, we would see a large company take shape....we know there is gas there, but is it economical???????Jonah wasnt until recent technology came about...



QUOTE
"The Jonah gas field is a basin-centered gas accumulation within over-pressured Upper Cretaceous fluvial strata of the Lance Formation and upper Mesaverde Group of the Green River Basin."



QUOTE
"Jonah Field is a large natural gas field in the Green River Basin in Sublette County, Wyoming, in the United States. The field is approximately 32 miles (51 km) south of Pinedale and 65 miles (105 km) north of Rock Springs in southwestern Wyoming, and is estimated to contain 10.5 trillion cubic feet (297 billion cubic meter) of natural gas. Managed by the Bureau of Land Management, the field has a productive area of 21,000 acres (85 km²).


History
The presence of natural gas in and around Sublette County was known for years, but it was not deemed practical to extract. El Paso Natural Gas Company in the 1970s, in cooperation with Federal Government of the United States and the Atomic Energy Commission, proposed a project called Wagon Wheel Nuclear Stimulation Project, which was an attempt to detonate 5 small nuclear explosions to fracture the sands and enable natural-gas production. The project was abandoned and the Jonah Field and surrounding areas, including the Pinedale Anticline, were left undeveloped for years.

Jonah Field was discovered by geologist Ed Warner working with McMurry Oil. The field proved viable after the drilling of the McMurry Oil Company Jonah-Federal #1-5 in January, 1993 where McMurry placed their operations office.


[edit] Development
Jonah Field is known for being one of the largest on-shore natural gas discoveries in the USA in the early 1990s. The startling fact is that Jonah has a surface area of approximately one township yet it contains 10.5 trillion cubic feet (297 bcm) of gas. In comparison, the Hugoton Field covers most of the southwest portion of Kansas, a 14 county area, yet it contained only about three times the volume of gas in Jonah.

The principal technical challenge in Jonah is identification and stimulation of productive intervals in a 3,000 ft (910 m) to 3,500 ft (1,100 m) section of stacked lenticualr fluvial sand/silt/shale sequences which comprise the Upper Mesaverde, Lance, and Unamed Tertiary formations. Hydraulic fracturing is used to open (stimulate) the tight sand formations that exist more than a mile and a half underground, which allows gas to be recovered at economic rates.

The major gas companies currently developing the field are the EnCana Corporation and BP. Other active gas companies involved in the Jonah Field include Ultra Petroleum and Yates Petroleum.


 
foolsgold
post Posted: Jul 10 2008, 01:34 PM
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In reply to: davo22 on Thursday 10/07/08 12:55pm

Davo,

Thanks for the analysis. ELk is looking better and better as time goes on. Two positive announcements in a week and still a lot more coals in the fire to keep them coming. ELK seems to be so cheap at the moment, will have to pick up some more today before word gets out.

FG


 
davo22
post Posted: Jul 10 2008, 12:55 PM
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JV announcement out.......Currently drilling the outback for shallow gas and also targeting oil.....

Does this JV give a rough idea of the current worth of ELKs exploration acreage??????

The following is a very rough guess the value this deal gives us....
Paladin look to be paying lease costs - $100,000??? + 1 well $200,000??? ....so lets say $300,000 for 25% values outback at $1.2 mill for 17,000 acres.....As of last years AGM ELK had 400,000acres under lease or exploration agreements.....

The above acreage if it was all similiar quality to outback would mean the current deal would value ELKs exploration acreage at $30mil or just below 50c...or the entire current market cap......... biggrin.gif
cheers

 
 


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