Looking back on the last few updates I can't see any forcasts of...

Looking back on the last few updates I can't see any forcasts of cashflow from this project, but they must be disappointed at the dribs and drabs of oil produced thus far. Are they at a dead end here using conventional metheods???


As far as I can tell they plan a chemical flood to stimulate this field to release the 4.5 million barrells left behind when the field closed in 1998.

It would appear a study must be done which could take as long as six months so we are looking at 2012 to do the stim. If successful then we have cashflow to take us into 2014 when Grieve unleashes a fountain of money into our coffers from our 35% stake.

Sounds like a way forward for ELK but will still necessitate another round or two of capital raisings. Anyone have an idea of the costs involved for a chemical flood of a field the size of Ash Creek?

cheers
DJ