denbury sec filing just released

http://phx.corporate-ir.net/phoenix.zhtml?c=72374&p=irol-sec

Section 7 ? Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure
As announced by Elk Petroleum Ltd (ASX: ELK) ("Elk") on May 9, 2011 in Australia, Denbury Onshore LLC has signed an agreement with a subsidiary of
Elk to acquire a 65% working interest in Grieve Field, a planned CO2 EOR Project located in Natrona County, Wyoming. Denbury will serve as operator and
invest the first $28.5 million of capital and operating costs in Phase 1. In Phase 2, Denbury may fund, at Elk's option, Elk's 35% share of the next
$34.3 million of capital and operating costs, with Denbury recouping its Phase 2 expenditures (plus interest) out of Elk's 35% working interest share of
production from the project. Elk has the right, at its discretion, to elect to fund its share of Phase 2 expenditures. All future costs beyond Phase 2 will be borne
by the each company in proportion to its respective working interests.
Denbury will own and construct the CO2 recycling facility and the necessary 3-mile pipeline to deliver CO2 from an existing CO2 pipeline to the Grieve
Field. Upon completion of the construction of the pipeline and CO2 recycling facility, Denbury will charge Grieve Field a monthly lease fee and all routine
operating costs associated with the pipeline and recycling facility for the life of the project. Denbury estimates that the Grieve CO2 EOR project has potential
for recovery of approximately 12 million barrels ("MMBbls") of gross oil, or 6.4 MMBbls net to Denbury's net revenue interest. In the event the project
recovers greater than 12 MMBbls of oil, gross, Denbury will assign Elk an additional 1.3% of net revenue interest in the project.
Denbury expects to close the transaction within 30 days following customary due diligence, finalization of the necessary lease agreements associated with the
pipeline, and recycling facility and customary consents and approvals for transactions of this nature.

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This should heat things up a bit tomorrow. ASX investors cant be blamed for not really understand Co2 EOR but the folks in the US sure do.