The Dutch assets are located on Blocks P1 and P2 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.
Contingent Resources: Five confirmed discoveries have been assessed with an un-risked best estimate net attributable hydrocarbon gas to Elko of some 280 billion cubic feet.
Prospective Resources: Six key prospects in the exploration portfolio amount to some 291 billion cubic feet un-risked best estimate net attributable hydrocarbon gas to Elko.
Denmark
The Danish assets are located on license 02/05 on the offshore continental shelf. The assets have been independently evaluated by TRACS International in June 2010. TRACS report that the Danish acreage contains a substantial number of high risk leads which could be charged with either oil or gas. The full TRACS report can be found in the news section of this website.
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 is subject to closing conditions and regulatory approvals typical of transactions of this nature. Upon completion of the farm-in, the total net attributable prospective resources to Elko reported in the CPR, become 3,557 billion cubic feet under a gas scenario, 936 million barrels under an oil scenario.
