Elk Petroleum Limited: Quarterly Activities and Cashflow Report 31 March 2017

28.04.2017  |  ABN Newswire

Sydney, Australia (ABN Newswire) - Elk Petroleum Ltd. (ASX:ELK) (OTCMKTS:EKPTF) is pleased to provide the Company's Quarterly Activities and Cashflow Report.

HIGHLIGHTS

- Grieve Project equipment and materials procurement and construction advances

- Total CO2 injected 39 BCF and field pressure reaches 2900 PSI

- Madden Gas & CO2 Field/Lost Cabin Gas Plant acquisition completed

- Total Madden Gas Field Proved Gas Reserves increase to 79.5 BCF (13.3 MMBOE) - up 13%

- 2P Proved + Probable Oil & Gas Reserves increase to 20.5 MMBOE - up 10%

- Average daily production 24.6 MMSCF/day (4,108 BOEPD) for total production 2.3 BCF (369,700 BOE)

- Total quarterly gas sales of US$6.35 million and net operating profit US$1.6 million

To view the full report, please visit:
http://abnnewswire.net/lnk/PMP867QD


About Elk Petroleum Limited:

Elk Petroleum Ltd. (ASX:ELK) (OTCMKTS:EKPTF) is an oil and gas company specialising in Enhanced Oil Recovery (EOR), with assets located in one of the richest onshore oil regions of the USA, the Rocky Mountains. Elk's strategy is focused on applying proven EOR technologies to mature oil fields, which significantly de-risks the Company’s strategy of finding and exploiting oil field reserves.



Contact:

Elk Petroleum Ltd.
Brad Lingo Managing Director/CEO
T: +61-2-9093-5400
E: ir@elkpet.com

Alex Hunter Chief Financial Officer
T: +61-2-9093-5400
E: ir@elkpet.com