oil recovery could mean billions, page-2

More oil possible from old field, UW research shows

Up to 23 million barrels of oil can still be recovered from a Natrona County oil field, according to a full-field model developed by the Enhanced Oil Recovery Institute at the University of Wyoming.

A release from the university stated that by flooding the Elk Petroleum-owned Grieve Muddy reservoir 45 miles west of Casper, 23 million barrels of oil can be recovered, out of 44.56 million barrels remaining in the reservoir. That's almost twice as much as was projected by the company in a 2005 prospectus, according to the statement.

Chris Mullen, president of Elk Petroleum, said the model is a reliable indicator of how much is left in the oil field.

The model is being refined, and a final report is expected later this month, the statement indicated.


52% RECOVERY
Ive worked out returns as approx $700,000,000
Is this a 20 year field?
If so about $90,000 day profit
trading at 40 odd cents currently

I might re-evaluate my position, or is the Glen Feddi clouding my judgment?

Cant wait to see the report due out before Oct31- that will sure up the story here, impressive numbers.