ELK PETROLEUM LIMITED AUSTRALIAS ONLY EOR* FOCUSED COMPANY * Enhanced Oil Recovery (Low Risk, Material Cash Flow Outlook, Material Upside) CURRENT STATUS REPORT Grieve CO2-EOR Project Singleton CO2-EOR Project Grieve Oil Export…
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…
CORPORATE INFORMATION Market capitalization (04/04/14): 25.3 M Shareholder Breakdown Issued capital: 180.4 M Share price (04/04/14): 14 c 52 week high: 22 c 41% 52 week low: 13 c Retail 56% Inst/ HNW/ Assoc ELK - Daily Line…
GRIEVE OIL FIELD 5
DEVELOPMENT STATUS OF THE GRIEVE CO2-EOR PROJECT - ELKs current primary asset PROJECT STATUS Initial development work completed Injection & production wells 4-level site works Specialised fluid distribution & gathering flowlines,…
DEVELOPMENT STATUS OF THE GRIEVE CO2-EOR PROJECT - ELKs current primary asset PROJECT STATUS (Continued) Operator owned processing & recompression facilities to commence construction in 2014-15; cost = US50 million Total initial…
GRIEVE CRUDE OIL EXPORT PIPELINE 8
GRIEVE OIL EXPORT PIPELINE Plans altered to work more closely with operator Joint discussions proceeding with 3rd parties over ownership and tariff Pipeline commissioning work now for 2015 Increased potential for Elk to monetise the…
ASH CREEK OIL FIELD 10
ASH CREEK EOR PROJECT Laboratory work and reservoir modelling has provided encouraging results for a MONTANA chemical flood EOR project WYOMING Baker 3 Reservoir modelling has also provided a development path which will…
SINGLETON CO2 EOR DEVELOPMENT Elk AOI IN PANHANDLE OF NEBRASKA PROVIDES LOW COST ENTRY TO NEW CO2 AREA Bridgeport Ethanol LLC produces 132,000 metric tons of CO2 per year: CO2 supply contracted to Elk Bridgeport 20-24 million…
SINGLETON OIL FIELD SUITABLE FOR EOR DEVELOPMENT 10+million barrels of oil remain in-place Excellent sand quality Good source of injection water; reservoir pressure at or close to that required for achieving CO2-oil…
ELKS GREEN GROWTH STRATEGY California LCFS Credit Price Carbon Negative Oil Strategy Quarterly LCFS Trading Activity Report for 2013 4 to 6 barrels of CO2 produces one barrel of oil in a Develop carbon negative oil CO2-EOR project.…
ELK SITUATION IN SUMMARY Significant milestones have been achieved over the past two years Offset by delays in timing for first oil at Grieve & suspension of Ash Creek development until funded by farmout or sale Strong production…
APPENDIX 16
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. 17
ESTABLISHED AND EXPANDING CO2 INFRASTRUCTURE Location of current CO2 EOR projects and pipeline infrastructure Source: NETL 2010 18
CO2 EOR PROVEN TECHNOLOGY Growth of CO2 EOR Production in the US. A proven technology delivering growth in oil production and recovery. 1960 1965 19
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…
CHIEF EXECUTIVE OFFICER SCOTT HORNAFIUS Appointed 1 June 2013 Updated vision for ELK Background: Geologic, geophysics & commercial Ex Mobil (US, PNG, & UK) Founded MegaEnergy in 2000 Appalachian play identification Marcellus…
BOARD MEMBERS NEALE TAYLOR Non-Executive Director and Chairman, Melbourne Over 40 years of technical, operating and commercial experience in oil and gas exploration, production, planning and evaluation, acquisition and joint venture…
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