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ELK PETROLEUM LIMITED (ELK)

Delisted from ASX 16/03/2020

SHARE PRICES

(updated at weekends)

Former (or subsequent) names

 

Shareholder links

Our website ranking of ELK: rating 4
(4 out of 5)
COMPANY WEBSITE:

 

REGISTRY:
Computershare, Yarra Falls, 452 Johnston Street, Abbotsford VIC 3067
Tel : +61 (0)3 9415 4000 or 1300 850 505 (within Australia)
Fax : +61 3 9473 2500
RegistryWebsite RegistryEmail

Company details

ISIN: AU000000ELK1
Address: c/- Automic Group Level 5 126 Phillip Street Sydney, NSW 2000 Australia
Tel:  (02) 9299 9690 Fax: (02) 9299 9629

Date first listed: 17/06/2005
Company Secretary: Mr Andrew Bursill (Joint Co. Secretary), Mr David Franks (Joint Co. Secretary)
Sector: Energy
Industry Group: XEJ
Activities: Petroleum redevelopment opportunities in the USA - the Company has purchased the production leases that cover the entire Grieve Oil Field in Wyoming, USA

Shareholders in this company should consider crystallising a capital loss in 2020/21 by selling their worthless shares, which they can achieve online by entering transaction details here. While this usually makes good economic sense, we recommend you seek professional advice before buying or selling securities, your accountant is probably the best person.

13/08/2020

delisted from the commencement of trading on 16 March 2020 pursuant to Listing rule 17.12.

16/03/2020

we understand this company failed and is in administration and ASX removed the company from listing because its securities have not been quoted for "an unacceptably long period"

16/03/2020

The company releases its Bimonthly Report to Creditors.

28/01/2020

On 18 October 2019, Elk exeucted the DOCA proposed at the second creditors meeting on 27 September 2019. Giles Geoffrey Woodgate of Woodgate & Co. was appointed as deed administrator.

18/10/2019

On 27 September 2019, creditors of EPL resolved that EPL enter into a DOCA. The DOCA must be signed within 15 business days of the second meeting of creditors, being 21 October 2019. Upon signing of the DOCA, the proposed deed administrator will be responsible for further updates.

10/10/2019

On Friday, 24 May 2019, the US Bankruptcy Court heard First Day Motions for the Elk Chapter 11 Entities. The Administrators of EPL are seeking expressions of interest for either: equity participation, recapitalisation or restructure proposals by way of a Deed of Company Arrangement; or the purchase of EPL's interests in its USA subsidiaries. On Monday, 27 May 2019, the Administrators held the first meeting of creditors. At the meeting, creditors resolved to appoint a Committee of Inspection.

27/05/2019

Directors of Elk Petroleum resolved on 15 May 2019 to appoint Jason Preston and Barry Kogan as Joint and Several Voluntary Administrators. The Administrators are undertaking an urgent assessment of Elk and its operations to determine the most appropriate strategy going forward, including consideration of whether a recapitalisation can occur. A first statutory meeting of creditors must be held within eight business days after the administration begins and is expected to take place on or around 27 May 2019.

15/05/2019

The company lodges its Quarterly Activities and Cashflow Report.

03/05/2019

Refinancing activities continue. Aneth oil production has returned to levels above 10,000 barrels of oil equivalent per day. Grieve oil production is currently in the range of 170-220 barrels of oil per day. The Grieve Central Processing Plant has been operating close to 100% efficiency with only some recent minor power and preventative maintenance outages and CO2 delivery disruption. Organisation and other cost reduction measures have been implemented in Australia and the USA. Completion and filing of the Company's accounts for the 6 months period ending 31 December 2019 have been deferred pending resolution of the Company's refinancing activities. The Company's next quarterly report will be released on or before 30 April 2019.

23/04/2019

The Company has secured up to A$4 million in funding from its major shareholder, Republic Investment Management. The Company has agreed to a recapitalisation and transformation proposal from its major Shareholder, Republic, that includes the above Short-Term Loan and a proposed partially underwritten Rights Issue, totalling up to approximately A$15 million. The proposal is to be supported by a number of Board and management changes to focus on the Company's immediate needs, manage an orderly restructuring and over time to allow Elk to realize the full potential of its underlying assets. The company intends to remain in voluntary suspension to attend to various matters in relation to the rights issue. The purpose of this funding is to provide the company with sufficient capital to undertake an orderly restructuring of the business in the months ahead and overcome the difficulties the company is now facing.

26/03/2019

Negotiations with an investor group in relation to a potential refinancing by way of a capital raising transaction have progressed but remain ongoing and are yet to be finalised. The Company expects to release an update to the market in relation to this proposed refinancing by Friday, 22 March 2019. Until such a release is made, Elk's securities will continue to be suspended from quotation.

15/03/2019

The securities of Elk Petroleum Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of ELK, pending the release of an announcement regarding an update to its refinancing program.

01/03/2019

The suspension of trading in the securities of Elk Resources Limited will be lifted immediately following the release of an announcement regarding the arrangement of a new convertible loan for forward funding requirements. ASX Code: ELK

16/04/2015

The securities of Elk Petroleum Limited (the "Company") will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement. Security Code: ELK

07/04/2015

The securities of Elk Petroleum Limited (the "Company") will be reinstated to official quotation from the commencement of trading tomorrow, Thursday 26 March 2015 following the release of the Company's accounts for the half year ended 31 December 2014. Security Code: ELK

26/03/2015

suspended following failure to lodge Half Year Accounts for the period ended 31 December 2014 in accordance with Listing rules

17/03/2015

The suspension of trading in the securities of Elk Petroleum Ltd (the "Company") will be lifted immediately following receipt of an announcement relating to a capital raising. Security Code: ELK

23/04/2014

Elk Petroleum Limited (ASX Code: ELK) is pleased to announce that it has received firm commitments from institutional and sophisticated investors and exempt persons to issue 8,466,667 new ordinary shares to a total value of $1.016 million with new shares expected to be allotted on or about 29 April 2014 (Placement).

23/04/2014

The securities of Elk Petroleum Limited (the "Company") will be suspended from quotation immediately, at the request of the Company, pending release of an announcement. Security Code: ELK

17/04/2014

The suspension of trading in the securities of Elk Petroleum Limited (the "Company") will be lifted immediately, following an announcement by the Company. Security Code: ELK ELKO

29/07/2013

The securities of Elk Petroleum Limited (the "Company") will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement. Security Code: ELK ELKO

26/07/2013

shares reinstated to quotation

12/10/2010

shares suspended from quotation pending an announcement

06/10/2010

the suspension of trading in the securities of Elk Petroleum Limited (the "Company") will be lifted immediately following receipt of an announcement by the Company

16/08/2010

company wishes to advise it is continuing to finalise the announcement with respect to the release of a reserves and economics report by Ryder Scott in relation to the Grieve Field chemical flood EOR project. The Company will provide further news as soon as it is available

13/08/2010

shares suspended from quotation pending an announcement

11/08/2010

shares reinstated to quotation

09/04/2009

shares suspended from quotation pending an announcement about a capital raising

01/04/2009

shares reinstated to quotation following an announcement regarding an $11.7m share placement

21/03/2006

shares suspended from quotation pending an announcement

15/03/2006

ASX Announcements (courtesy of ASX)

 

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    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNATURENUMBERPRICEAMOUNT
    18/06/2018Brad Lingo1,920,408$0.074$142,110
    15/12/2017Neale Taylor175,700$0.062$10,893
    07/11/2017Tim Hargreaves1,000,000$0.067$67,000
    22/09/2017Brad Lingo275,000$0.065$17,875
    08/08/2016Brad LingoOn market147,500$0.078$11,560

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Neale TaylorNon Exec Chairman06/09/2010
    Scott HornafiusPresident01/06/2013
    Dave EvansCEO29/04/2016
    Tim HargreavesNon Exec Director12/05/2015
    Barry SmithNon Exec Director31/07/2012
    Robert CookNon Exec Director08/04/2005

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Russell KrauseNon Exec Director13/03/201531/07/2019
    Brad LingoManaging Director, CEO01/08/201531/03/2019
    Alexander HunterCFO11/04/201615/03/2019
    James PicconeExecutive Director02/02/201804/02/2019
    Matt HealyNon Exec Director21/10/201014/10/2016
    Anthony StrasserNon Exec Director14/10/200813/03/2015

    Date of first appointment, title may have changed.