revenue, page-2

After the US winter Elk should test the deeper upper sands if this proves successful then it has the potential for Elk to fund all or most of the Muddy co2 flood....considering this is likely to take place around the end of april...it may in fact be better to hold of on a JV until they test the upper sands.....obviously that is assuming they can get the co2 without being in a JV....it would be a longer time frame but would give Elk up to 20mil bo net(not incl upper sands).
cheers