Australia's largest stock trading and investment forum Australia's #1 stock forum

ELK

Click for more information

0.00%

1.4¢ elk petroleum limited

Missed Deadlines, page-2

First 2 Last

Share
Profile

Follow
danpech

3,277 Posts.

7643

01/03/18

15:30

Post #: 31454785
Share

Originally posted by BSMeter ↑

Elk Petroleum while transitioning to a highly leveraged oil & gas producer has missed its deadline for completion of major works for the Grieve Project due in Mid February. February has passed and there is still no update of when this much anticipated work will in fact be completed. It is particularly important as a missed deadline on the completion of major works also has a roll-on effect of causing a missed deadline on commissioning and oil production from Grieve by the end of Q3, both of which are deadlines published by Elk itself. Given the exceedingly high leverage of the Elk Petroleum play, together with the high interest rates on the financial instruments which underpin the operations, Elk is not in a position to miss production deadlines, especially from its stated high margin projects, without putting the company at further risk of not meeting its financial obligations. The company is at risk of becoming categorized as the one that misses its deadlines rather than meets them which will not be good for its stakeholders.

Expand

Details on Grieve completion status given at the Enercom conference at the 7:40 minute mark

http://www.elkpet.com/about-us/in-the-news/74-elk-petroleum-presents-at-enercom-conference-dallas

Cheers

Dan

ELK Price at posting: 9.4¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

Reply

Top Stories

TIG

Tigers Realm's US$49M sale of Russian assets – to a Kremlin-adjacent billionaire – set to go ahead

RAG

Ragnar impressed by 11.55 metre pegmatite in Sweden, anticipating further mineralisation

A3D

Defence MOU for propulsion systems pushes Aurora Lab shares higher

NWH

NRW Holdings inks $109M deal with BHP for works at Jimblebar

Week 41 Wrap: HotCopper asks “Back to Mongolia?” for Elixir; US CPI comes in at 2.4%; eyes still on China

ASX Market Open: ASX200 to open flattish after Wall Street weakens on hot US inflation data | October 11, 2024

SHN

Sunshine Metals kicks off copper gold drilling at Truncheon; Highway East targets

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

IMA

Issues emerging as Australian companies tackle critical minerals challenge

CXU

Cauldron Energy reports "excellent" uranium assays in latest drill run

There are more pages in this discussion • 10 more messages in this thread...

First 2 Last

Add ELK (ASX) to my watchlist