I think we are all swimming around on this I have been looking...

I think we are all swimming around on this I have been looking around on the SEC site for Co2 Ryder Scott proven reserves and I have come across M12 statement a couple of times so I am assuming hes doing the same

Heres is Ranchers Co2 agreement

http://www.secinfo.com/d12TC3.v1kVs.d.htm

Here is Ranchers reserve statement that I think can be assumed to be in the same category as Elk reserves, on this basis I think Elks reserves are in the category of proved and undeveloped or P2;-

Estimated Proved Reserves - Proved oil reserves are the estimated quantities of crude oil that geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions, i.e. prices and costs at the date the estimate is made.


Proved developed oil reserves are reserves that can be expected to be recovered through existing wells with existing equipment and operating methods. Additional oil expected to be obtained through the application of fluid injection or other improved recovery techniques for supplementing the natural forces and mechanisms of primary recovery are included as “proved developed reserves” only after testing by a pilot project or after the operations of an installed program has confirmed through production response that the increased recovery will be achieved.


Following is a summary of the proved developed and total proved oil reserves, in barrels of oil, attributed to the operations of the Acquisition Properties. In management’s opinion, the reserves estimates at December 31, 2006 were approximately the same as those at December 21, 2006, the date the Acquisition Properties were sold.

(like i said this is new ground for me so I am learning as I go) the Rancher prospectus basically had reserves P1 proven but undeveloped (PUD)and they remain so because "test" in a co2 recovered model would only be at the stage that Co2 had been bought to pressure, which in Elks case is about 18-24mths after Co2 is begun to be injected

So we could be looking at P1 under the PUD sub category