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Yes John ,this investment in EOR looks great .Did some research last night on the various tertiary methods of oil recovery and co2 flooding appears to be the goods although only in infancy.Denbury ,a NYSE listed co. is leading the pack and a top exec. joined Rancher early on so he must have thought the prospects were o.k at the time .They use naturally occurring source of co2 then pipe it vast distances LNC will build CTL plant over the depleted field and use the co2 byproduct .The cost of co2 has increased dramatically of late and would be a stumbling block for other hopefuls and collecting co2 from industrial processes ie power plants sounds messy to me.there is believed to be 450 bil barrels recoverable by tertiary means in the US alone ,the fields LNC have aquired hold an estimated 117 mil barrels I,m not sure that was the recovery figure or the residual -c02 flooding can extract 40-60% of a field as opposed to 10-20% by primary means .Rancher paid 75mil or there abouts for these fields so LNC,s 14.7 mil looks like a steal
little excited by the prospects here
cheers van