Microsoft Word - 09072012_Elk_ASX_Announcement_EORGAS_LLC.docx
ABN 38 112 566 499
19 October 2015
Elk Releases Comprehensive EOR Videos
Elk Petroleum Ltd (ASX: ELK) (the 'Company' or 'Elk') is pleased to advise that it has released new website animation videos, which now provide a more comprehensive overview of enhanced oil recovery (EOR) techniques.
TheCompany produced two new videos specifically covering both Waterflood EOR and CO2 EOR, which is currently being deployed at the flagship Grieve Project in Wyoming. The videos explainthat Waterflood (a secondary oil recovery process) and CO2 EOR(a tertiary oil recovery method) can each extract a significant volume of oil ranging from five to 20 per cent of the original oil in place in existing oil fields, which is in addition to oil extracted in the primary recovery process. The videos also detail the processes of how each EOR method is utilised.
Both CO2 and Waterflood are proven improved and enhanced oil recovery methods that have been widely used over the last 40 years to recover more oil from existing oil fields as they mature. These enhanced and improved oil recovery techniques are especially applicable when oil prices are low as companies seek to extract more oil production out of existing assets and securing investment capital in exploration activities is limited.
Elk is targeting first oil from the Grieve CO2 EOR Project in early CY2017.
To view the videos, please visit our home page at www.elkpet.com and go to the What is EOR website page at www.elkpet.com/what-is-eor/what-is-eor-overview/ .
For further information please contact:
Investor:
Brad Lingo
Managing Director/CEO P: +61 2 9299 9690
E: [email protected]
Media:
Rebecca Lawson
Media and Capital Partners P: +61 433 216 269
E: [email protected]
ABOUT ELK PETROLEUM
Elk Petroleum Limited (ASX: ELK) 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. Listed on the ASX in 2005, 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.
Leveraging proven EOR technology and Company expertise and experience, Elk is currently developing the Grieve oil field in Wyoming (Elk - 35% WI) and is planning for a CO2-based EOR project at the Singleton oil field in Nebraska (Elk - 100% WI & operator).
ELK PETROLEUM LIMITED
Suite 4, Level 9 Tel +61 2 9299 9690
341 George Street
Sydney NSW 2000