A good deal ?, page-13

Stumpy, I think you will find the November 28 presentation is just misfiled on ELK website. The presentation itself is dated 26 November 2013 and is the same as the one loaded on the ASX website for 26 November 2013.

In the June '14 quarterly ELK was still saying that the capital costs for the Grieve field development was USD60 million, still within their "fully funded" envelope, and in September they repaid the outstanding amount of USD0.98 million and settled the loan with a maximum of USD1.13 million with First Interstate Bank, Wyoming. Then in the September quarterly, ELK reported that a total of USD70 million had been expended by the JV.

I suspect that ELK were not aware of the potential for the overrun in September, paid out the loan and were then hit with a cash call for USD2.52 million representing their share of the overrun, due for payment in the December quarter. ELK certainly had not paid for the overrun in the September quarter and it is unlikely that Denbury would want to carry ELK any longer. We won't know about this till we see the December quarterly in around a months time.

You are correct, the September Quarterly States that supply of CO2 for the Singleton EOR commences late 2016. ELK still need to acquire the Right of Way for, and build the CO2 pipeline.
"Elk signed a CO2 contract with Bridgeport Ethanol at the end of 2013 that will provide the source of the CO2 for the project. The CO2 contract is for ten years, with CO2 purchases starting in late 2016."

I can't see a lot if opportunity for expediting the Singleton project a whole lot - nor would you really want to with the current low US oil prices.

Where I do agree with you 100% is that MEL holders are seriously missing a whole bunch of information.