ELK - Elk Petroleum

[quarky]

Grieve #39 looks like a leaky hole - faulted or no decent cap rocks at depth. I'm not holding my breath for the flow rates. Strangely the market seems to think this is good

well, this is out today...


Friday 16th October 2009
Update; Hereford #1 Gas Appraisal Testing
HIGHLIGHTS
●
The test program for the commingled productive gas zones of the Greybull and Lakota reservoirs has been completed.
●
A maximum stabilised gas flow rate of 10.323 million cubic feet per day was achieved on a 48/64” choke with a maximum unstabilised gas flow rate of 12.483 million cubic feet per day on a 1” choke.
●
Standard gas analyses have been completed from both the Greybull interval and the commingled Greybull and Lakota reservoirs that show a gas composition consistent with reports from the original test results in 1956.
●
Gas samples have been sent to the Federal Helium Project in Amarillo, Texas for noble gas analysis.
●
Further updates will be provided when the test data collected have been analysed for well deliverability and Absolute Open Flow (AOF).



looking good for ELK and with a JV, their share price should go a bit higher.


i've been watching ELK since 0.09, about 5 months ago...and i missed out at that price.

picked up some at 0.12 and then a lot more at 0.175

unfortunately, i got out a couple of days ago at 0.225, only to see the share price rise to 0.29 today, which is fresh 52 week highs.... d'oh !

 

[quarky]

looking good for ELK and with a JV, their share price should go a bit higher.


i've been watching ELK since 0.09, about 5 months ago...and i missed out at that price.

picked up some at 0.12 and then a lot more at 0.175

unfortunately, i got out a couple of days ago at 0.225, only to see the share price rise to 0.29 today, which is fresh 52 week highs.... d'oh !

why oh why, did i sell out at 0.225


opens at 0.355 today
and reaches a high of 0.395

crazy.
i'd have been up by over 100%.... boo hoo.


ELK is still promising i'd say, given their prospects...

 

[TradeDaily]

Whats happening with this stock? I had not looked at it for a while and now its back down to 0.17 from the high on 0.39... :s

 

[exgeo]

17th November capital raising at 17c. D'ya reckon that might be it?...................................

 

[ectoplasm]

17th November capital raising at 17c. D'ya reckon that might be it?...................................

Hi exgeo,

Those funds raised by the capital raising will be used for: (source ELK PETROLEUM LIMITED company announcements 17/11)
● the initial field and administrative work required for the pre-drilling part of the Phase 1 Grieve Chemical Flood development in Wyoming. This largely consists of surveying the exact bottom-hole locations for the existing wells, which will be used for either injection or production during the Phase 1 field development. These exact locations are required to finalise the Surtek history matching for the field. It also consists of preparing applications for 13 new drilling locations (10 injectors and 3 producers), and preliminary site preparation for the drilling pad to be used for all the new wells.
● the final facilities design to be used in the Phase 1 Grieve Chemical Flood development.
● the finalisation of Joint Venture and/or funding negotiations for the Phase 1 Grieve development
● the evaluation of alternatives, and most likely installation of a replacement pump for the Sand Draw South (SDS) #11 production well
● the development and appraisal planning, and gas marketing for the Hereford gas discovery in Montana
● the acquisition of additional acreage on trend with the Hereford gas discovery, and
● working capital

Some of those results are bearing fruit "10/12/2009 Grieve - Surtek Final Lab Results 3 " with another report due early this year ~ and so the share price should respond appropriately IMO



Daily chart: seems to have found support & based out, indicators looking OK too..

 

[ectoplasm]

Hi exgeo,

Daily chart: seems to have found support & based out, indicators looking OK too..

FWIW ELK looks to be in the process of breaking out - increasing volume and price action ~ not a bad sign IMO

anyone else following it?

Daily chart:

 

[copperpot]

Re: ELK - Elk Petroleum - New Board, New Management and New Share Price Re-rating

With Ash Creek to produce first oil later next week and the potential of the massive Grieve Field ( 27 million barrels of oil in place) and the new board & management combined with Oil trending upwards, ELK is set to head back to 50 cents.

 

[grandia3]

Let's pray Ash Creek will be successful

 

[grandia3]

today announcement made the SP raise to a high of 0.26, and closing at 0.195

I'm hoping it will raise again when Ash Creek is in production

 

[grandia3]

Sometimes it's a bit sad to trade at stocks which don't get much discussion (unlike AUT for example )

So, regarding the recent director's change of interest. He just bought more shares on the market. He should know best what the company is up to. Do you think we can expect that Ash Creek going to produce oil soon?

 

[grandia3]

well, talking to myself again it seems...

Ash Creek is now in production
The CEO said the production rate will be announced later
should see some volume in the next days