A comment reported previously from Bob that the (new) Ryder...

A comment reported previously from Bob that the (new) Ryder Scott report wasn't necessary for funding negotiations but would be a nice piece of information to have is playing out.

I would expect the report once it is out will add a punch to todays announcement. The revised NPV and economics at the high end of the oil recovery range will impress - 24 mill barrels . As Davo has said we can assume Denbury played a bit of hardball with their conservative 12million barrels assumption for negotiations. The NPV may approach $400 million in total.

Todays selling is more of a disappointment for the short termers / profit takers hoping for the ELK price spike of old imo. Good volume today ... lengthy consolidation under 30cents ... strong push from 30day ema ... excellent value ... I'll be hoping for a stable, manageable uptrend to continue from now.