great day to accumulate the elk, page-11

Graet day for this announcement...yesterdays preminition of mine may have been a good one...go the ELK

"The main benefit from stabilized production levels and higher oil prices has been on the revenue side where, with good
cost control on administration for the US field and office activities, we have been able to fully fund the acquisition of
substantial land positions in high potential exploration acreage in 3 separate areas of Wyoming and Montana. The most
mature of Elk’s exploration projects is at the Outback prospect area in the western Powder River Basin in Wyoming where
land acquisition has been completed, Joint Venture negotiations are almost concluded and drilling is expected to
commence shortly.”