Should have read the ELK announcement, i.e. the figures posters quoted were from the announcement. However it still seems to me that in the initial years the flow rates will be lower than 12,000 bopd (and even ELK say will rise to "only" 8,000 bopd!!!).
From the announcement, it seems that production would commence almost immediately but take 2yrs+ to reach full potential (due to the need to get the gas pressure up) - however in years 2 through 6 up to 8,000 bopd is likely, tailing off after that.
Still a fantastic result and means 75%(?) will be recovered in under 6 years, i.e. NPV through the roof!
ELK Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
