Danish North Sea Fund (Danish Government Entity) 20%
* Elko announced on 31st May 2010, an agreement with the Norwegian Energy Company ASA (Noreco) to farm in to the 02/05 license with a 47% working interest; Elko retaining 33%. This transaction and the transfer of operatorship to Noreco is subject to closing conditions and regulatory approvals typical of transactions of this nature.
License Summary:
Situated up-dip of mature Jurassic source rocks in the Danish Central Graben, (source of major North Sea producing fields)
Awarded 6th October 2005
6-10 year exploration term, 30 year exploitation term
The area consists of a number of structures with exceptionally large prospective resource potential
Aims, commitments and work program:
Test the overall play concept through the first well to be drilled in 2011
