Elk Petroleum Limited: IPAA OGIS Conference Chicago Presentation

04.10.2017  |  ABN Newswire

Sydney - Elk Petroleum Ltd. (ASX:ELK) (OTCMKTS:EKPTF) provides the Company's latest presentation at IPAA OGIS Conference Chicago.

Corporate Overview

Conventional Oil

- Elk is focused on redevelopment of conventional oil fieldsthrough enhanced oil recovery ("EOR")

- With Aneth acquisition, Elk becomes the 2ndbiggest ASX Mid-Tier Oil & Gas company by reserves & production

Proven Practices

- EOR is a well established, low risk production methodology -~90% success rate

- Engineering not exploration and candidate selection is critical

Production Focused

- CO2EOR focus provides opportunity for low risk, long-term production growth

- Abundance of large mature conventional oil fields suitable for CO2EOR redevelopment

Long term Profits

- EOR can deliver competitive, low cost, high margin production & annuity style cash flows

- Main assets have forecast 40-50 year production lives & significant growth potential

Cash Flow Positive

- Forecast 2018 EBITDA of ~US$50 million and free cash flow of US$17 million (see Note 1 below)

Note: 1) Based on Grieve 2P and Madden PDP production profile at Bloomberg Consensus Pricing (31 March 2017)

To view the full presentation, please visit:
http://abnnewswire.net/lnk/VZK292TL

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