Slightly frustrated.One from the chemical flood and one fron the...

Slightly frustrated.

One from the chemical flood and one fron the CO2 flood, do they both amount to empty pockets.
Exactly one year apart!!!

Chemical flood.
The total funding required to support a 100% owned project is of the order of US$18-20 million and this is being sought from a wide variety of sources including potential Joint Venture Participants.
As mentioned previously, the above development plan critical path activity has moved away from drilling the new wells (because of the reduced number required), to the design, fabrication and installation of the field facilities. Depending on the timing of securing funding for the development, this work could commence as early as APRIL 2010.

The CO2 supply agreement contains several conditions
precedent including the securing of funding for the
development of the project; Elk is pursuing a range of
options to fund the project and is in discussions with
number of parties that have, at this stage, indicated
strong interest to participate in development of the
project. It is planned to have funding (and/or joint
venture) arrangements in place by the end of MARCH and advisers have been retained to assist Elk put such
arrangements in place.