wickerman, from my understanding, the RS will confirm what EORI has stated ( or very closely to what EORI stated )
RS are going to factor in Co2 infrustructure, number of oil wells, positioning of oil wells, costing of infrustructure & Co2, time frames and recovery rates and recovery costs.
IMHO - 2P and approx 70% of the Oil in the in the Grieve Muddy Reservoir (which is what we already know) will be recoverable, and 30'ish% with a Co2 flood (as per EORI finding).
Remember the appointments of; Andy Rigg, appointed COE 18Feb2008 - 35 years experience in international oil exploration and development. Ralph Shulte, appointed 27Nov2007 - 25 years experience on enhanced oil recovery projects. They are some fairly handy appointments of personnel and gives me more confidence that this is a very good thing. If it wasn't a good thing, they would not have appointed them.
The Co2 contract, may take a little longer and i have been told that ELK are being 'cautious' in relation to this contract. IMHO i believe that the Co2 contract will start to make progress once the Ryder Scott Report is finished and has been released. All potential players will know exactly where they stand when this happens.
Good luck all, this SP is about the only thing keeping me going, all my other stocks are woeful ATM.
ELK Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
