The company trades under the ticker-code ELK with 38,060,503 shares on issue.
Following the closing of its offer, Elk completed the acquisition of the Grieve Oil Field in Wyoming, USA. Elk is now producing oil from the Grieve Oil Field at a rate of sboput 20 BOPD, which will be significantly increased over the next six months, according to the company.
Elk has recently contracted a workover rig to begin phase one of the multi-stage redevelopment of the Grieve Oil Field. The rig is expected to arrive on site during the middle of July and will restart oil production from four temporarily abandoned wells.
As part of the workover program, the company will also test the oil potential of the underlying Cloverly Formation.
Elk said it was also assessing several other US production opportunities.
