2009 equity raisings

In Nov 2009 ELK raised A little over $1.6 million for the following at 17 cents:

The funds raised by the capital raising will be used for
the initial field and administrative work required for the pre-drilling part of the Phase 1 Grieve Chemical Flood development in Wyoming. This largely consists of surveying the exact bottom-hole locations for the existing wells, which will be used for either injection or production during the Phase 1 field development. These exact locations are required to finalise the Surtek history matching for the field. It also consists of preparing applications for 13 new drilling locations (10 injectors and 3 producers), and preliminary site preparation for the drilling pad to be used for all the new wells.

the final facilities design to be used in the Phase 1 Grieve Chemical Flood development.

In May 2009 they did one also:

"The funds raised by the capital raising will be used for the Grieve Chemical Flood Feasibility Study and working capital (refer to the announcements made on 8th and 9th April at www.elkpet.com for details)."

Wonder how all that is working out now???

the finalisation of Joint Venture and/or funding negotiations for the Phase 1 Grieve development

the evaluation of alternatives, and most likely installation of a replacement pump for the Sand Draw South (SDS) #11 production well

the development and appraisal planning, and gas marketing for the Hereford gas discovery in Montana

the acquisition of additional acreage on trend with the Hereford gas discovery, and

working capital