Sydney, July 21, 2017 AEST (ABN Newswire) - Elk Petroleum Ltd (ASX:ELK) (OTCMKTS:EKPTF) ("Elk" or the "Company") is pleased to provide this update on the progress of the final field development construction for the Grieve CO2 EOR Project.

- Grieve Field fully repressured and reservoir ready to commence production

- Main components - High and Low Compressors - of CO2 Recycling Facility installed

- 1st Oil Production Separator Process Unit installed

- Final Production and Injection Well construction work commenced

Key highlights in the progress of construction are as follows:

- Grieve Field oil reservoir now fully repressured with an average bottom hole pressure of 3189 PSI - no further CO2 injection required to commence first oil production

- High and Low Pressure Compression Units for CO2 recycle facility have been delivered to site and installed as the main components of the CO2 Recycle Process Facility

- First of 3 Oil Production Separator Process Units has been delivered to site and installed in the Central Processing Facility - remaining 2 Oil Production Separator Units are in transit to site

- Final Production and Injection Well construction work has commenced and the first of 7 well workovers has been successfully completed and tested

The attached detailed presentation (see the link below) covering the progress of construction at the Grieve Project comes from a field trip by senior management to the Grieve Project on 10 and 12 July 2017.

To view the presentation, please visit:
http://abnnewswire.net/lnk/6IG15FA1


About Elk Petroleum Limited

Elk Petroleum Limited ASX ELKElk Petroleum Limited (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

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



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