Elk Petroleum Limited reported audited consolidated earnings results for the year ended 30 June 2016. For the year, revenue was AUD 58,729 against AUD 42,289 a year ago. Loss before income tax expense was AUD 7,168,313 against AUD 3,645,970 a year ago. Loss after income tax expense for the year attributable to the owners of Elk Petroleum Ltd. was AUD 7,168,313 against AUD 3,645,970 a year ago. Basic and diluted loss per share was 2.72 cents against 1.85 cents a year ago. Net cash used in operating activities was AUD 4,285,551 against AUD 3,337,441 a year ago. Acquisition of plant and equipment was AUD 175,654 against AUD 7,890 a year ago. Exploration and development expenditure was AUD 2,887,322 against AUD 200,337 a year ago. Exploration and development expenditure was AUD 112,559.