rancher energy

Anyone interested in ELK Petroleum should listen to Rancher Energy CEO's podcast at a presentation on CO2 recovery. Rancher Energy also operate out of Wyoming, not far from ELK's Grieve field.

http://www.rancherenergy.com/newsstory.asp?newsID=19

Very interesting to hear of what constitutes a decent field suitable for CO2 injection and the fact that it is so important to have a field located closely to a CO2 source or pipeline. Apparently CO2 cannot be piped/transported too far when it is compressed for CO2 injection due to its weight.

The company has a market cap of about US$100m and they spoke about its plans to purchase fields in its own blueprint (Wyoming). I would think that Elk/Grieve would make a cheap purchase/suitable farmin at current prices.

On other interesting notes, Rancher Energy paid US$25,000,000 for the Big Muddy field in Wyoming to be used for CO2 injection. This field has produced 52MMBO, so is not that disimilar to that of Grieve.

Let me know your thoughts on the podcast and relevance to ELK.