co2 contract signed

? Elk has entered an agreement with ExxonMobil for the supply of Carbon Dioxide (CO2).
? Agreement marks the transition into the development planning stage of its key asset.
? Expert simulation studies indicate potential for crude recovery in excess of 20 million barrels of oil.
? Injection of CO2 is planned to commence in the first half of 2012.
? Independent experts engaged to certify and classify the Grieve crude resource.
? The CO2 supply agreement contains several conditions precedent including the securing of funding for the development of the project; Elk is pursuing a range of options to fund the project and is in discussions with number of parties that have, at this stage, indicated strong interest to participate in development of the project.