Good to see they are exploring chemical floods....if the co2...

Good to see they are exploring chemical floods....if the co2 doesnt come through we have a plan B.....From my understanding a chemical flood would yeild around 70% of the oil that a co2 flood would......however the costs are considerably less...also the ability to run a pilot project would allow ELK to book 2p reserves and allow them to secure finance....they would be in a position to retain a larger % of the field....So it looks as though the net oil attributed to ELK may be similiar regardless of whether it is a co2 flood or a chemical flood....

Based on those numbers the potential recoveries at Ash Creek from a chemical flood could also be very promising....

Cheers