re: Ann: Quarterly Activities and Cashflow Re...
Sounds like a very postive report expense control and the pieces gradually fall into place
The final step yet to be achieved to ensure the Grieve EOR project will be undertaken and injection of CO2 commences in the first half of 2012, is to establish funding for the main development project.
Negotiations are well advanced to complete this final step. All the necessary steps to keep the project on schedule are being taken which include:
? the survey and design of the new CO2 branch line ? planning of the connection to the Anadarko CO2 pipeline ? the environmental assessment of the project and liaison with the BLM for their endorsement of the project ? applications to re-enter temporarily abandoned wells and to seek approval for them to be used as CO2 injection wells ? application to replace existing field gas gathering system with new CO2 field distribution system ? applications to drill new CO2 injection wells ? the study of a new power supply line route to the field ? applications to replace existing field piping with new CO2 distribution piping The project will involve significant new process equipment. A photo of similar separation, dehydration and compression facilities at Anadarko?s Salt Creek EOR project is shown below. The Grieve EOR project is on schedule and Elk expects to be able to report in the near future that the final contractual steps are in place that will ensure the project will be fully implemented and that the current momentum will be maintained.
ELK Price at posting:
31.0¢ Sentiment: Hold Disclosure: Held
