Elko Energy’s resources

Denmark
The original Licence 02/05 is located off the west coast of Denmark in water depths of approximately 40m and covers an area of 5,372 km2. Geologically it contains part of two structural elements, the East North Sea High in the west and the Horn Graben in the east. Licence 01/11 is located immediately to the west of Licence 02/05. Part of Licence 02/05 was judged to be geologically unattractive and so was relinquished during the application for Licence 01/11. The combined licences now cover an area of 3,645 km2.

Both assets have been independently evaluated by TRACS International in February 2011. TRACS report that the Danish acreage covers three substantial leads and prospects which could be charged with either oil or gas. The full TRACS report can be found in the news section of this website.

The Netherlands
Elko announced on 20th September 2010 that Elko Energy B.V. and Elko Exploration B.V. had entered into an agreement to sell their interests in Blocks P1 and P2 offshore the Netherlands to Chevron Exploration and Production Netherlands B.V. ('Chevron'). Elko will receive an overriding royalty up to 5% of the sales value from Chevron equity gas delivered into the Dutch National Transmission System and Chevron equity condensate delivered onshore. This transaction and transfer of operatorship was completed on 9th December 2010. Chevron anticipates drilling the first well on the acreage in 2011.

Blocks P1 and P2 are located on the offshore continental shelf. The assets have been independently evaluated by TRACS International in June 2010. TRACS report that the Dutch acreage contains a substantial number of proven discoveries and undrilled exploration prospects. The full TRACS report can be found in the news section of this website.