ELK PETROLEUM LIMITED AUSTRALIAS ONLY EOR FOCUSED COMPANY (Low Risk, Material Cash Flow Outlook, Material Upside) WYOMING ASSET SALE NEBRASKA PROJECT UPDATE Grieve CO2-EOR Project For Sale Singleton CO2-EOR Project Grieve Oil…
ELKS CURRENT PROJECTS MONTANA Grieve CO2-EOR Project SINGLETON Grieve Oil Export pipeline Ash Creek EOR Project Singleton CO2-EOR Project ASH CREEK NEBRASKA Green Growth Strategy using WYOMING Lost Cabin CO2 from…
NEWS: ELK COMMENCES SALE OF WYOMING ASSETS WHAT GRIEVE CO2-EOR PROJECT: 35% WI - 6.5 million barrels 2P reserves GRIEVE OIL EXPORT PIPELINE: 100% WI - approved to transport Grieve EOR oil GRIEVE NIOBRARA RIGHTS: 100% WI - over 2900…
CORPORATE INFORMATION Market capitalization (4 June 14): 17.0 M Shareholder Breakdown Issued capital: 188.9 M Share price (4 June14): 9.4 c 52 week high: 20 c 41% 52 week low: 8.4 c Retail 56% Inst/ 2P oil reserves: 6.5 MB HNW/…
WHAT IS EOR EOR (Enhanced Oil Recovery) delivers almost as much production as Primary Recovery (1) (1) Recovery of original oil in place based on history at Little Creek Field. 6
CO2 EOR PROVEN TECHNOLOGY Growth of CO2-EOR Production in the US. A proven technology delivering growth in oil production and recovery. 7
GRIEVE CO2-EOR PROJECT 8
DENBURY-OPERATED GRIEVE CO2-EOR PROJECT Development scenario for Grieve Grieve Average Daily CO2 and Water Injection Rates 50 25,000 MMSCFD CO2 BWIPD 40 20,000 30 15,000 Water (BWPD) CO2 (MSCFD) 1 mile 20…
EXISTING WYOMING CO2-EOR PROJECT EXAMPLE 1 Anadarkos Monel Patrick Draw 10
EXISTING WYOMING CO2-EOR PROJECT EXAMPLE 2 Devons Beaver Creek 11
DEVELOPMENT STATUS OF THE GRIEVE CO2-EOR PROJECT - ELKs current primary asset PROJECT SUMMARY Total initial gross project investment to be US100 million Total to date gross project capital & operating costs, including CO2…
DEVELOPMENT STATUS OF THE GRIEVE CO2-EOR PROJECT - ELKs current primary asset PROJECT STATUS Completed Work Wells and flow lines Grieve Pressure Surveys vs Simulated Pressure Response Range Site works & production manifold 3200…
GRIEVE PROJECT REMAINING STEPS TO FIRST OIL Construct operator-owned oil processing & CO2 recompression facilities construction to commence in 2014-15; cost of US50 million Install high-voltage power line and substation at the…
EVOLUTION PETROLEUM versus ELK PETROLEUM Both companies farmed out CO2-EOR projects to industry leader, Denbury Resources Evolution Elk Petroleum Petroleum (EPM: NYSE) (ELK: ASX) Delhi Field Grieve Field Discovered 1940's…
GRIEVE CRUDE OIL EXPORT PIPELINE 16
GRIEVE OIL EXPORT PIPELINE 100% owned oil pipeline from the Grieve project to Casper 32-mile X 8 diameter Sole BLM approved export route for Grieve oil Value is function of tariff to be agreed Supplementary income when combined with…
ASH CREEK EOR PROJECT 18
ASH CREEK EOR PROJECT Laboratory work and reservoir modeling to support a chemical flood EOR project Options for early cash flow and lower risk Completed: 12 well work-overs; 41,155 feet flow lines; tank batteries, power lines,…
ELK PETROLEUM WYOMING ASSET SALE RATIONALIZATION MARKET CAPITALIZATION: as low as A15 million in early June 2014 RYDER SCOTT INDEPENDENT VALUATION: value range well above current Australian (FEBRUARY 2013) market capitalization US…
ELK PETROLEUM WYOMING ASSET SALE SCHEDULE TIMING EVENT Late June Sales material released Late June Data room opens Early August Bids due Mid-August Winning bidders notified September Purchase and Sale Agreements signed October…
NEBRASKA UPDATE NOT IN WYOMING ASSET SALE Recently completed acquisition of 100% WI in Singleton Unit Hold CO2 supply contract from Bridgeport Ethanol plant 22
SINGLETON CO2-EOR DEVELOPMENT Elk AOI IN PANHANDLE OF NEBRASKA PROVIDES LOW COST ENTRY TO NEW CO2 AREA 16-24 million barrels OOIP Singleton 25 miles southwest of Bridgeport Bridgeport Area of Interest (AOI) has 10 oil fields…
SINGLETON OIL FIELD SUITABLE FOR EOR DEVELOPMENT Excellent sand quality Setting ideal for CO2-oil miscibility Over 18 well bores available Expect rapid response to injected CO2 2-4 million oil barrels potential Good local…
ELKS GREEN GROWTH STRATEGY California LCFS Credit Price Carbon Negative Oil Quarterly LCFS Trading Activity Report for 2013 4 to 6 barrels of CO2 produces one barrel of oil in a CO2-EOR project. Burning one barrel of oil creates…
ELK PETROLEUM SUMMARY Elk has initiated sales process for its major assets in Wyoming Appointed Meagher Energy Advisers as broker Successful asset sale can lead to: Recapitalization of the company Cash distribution to shareholders…
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