Davo.....it is regrettable ELK spent so much time in persuing...

Davo.....it is regrettable ELK spent so much time in persuing Co2.

For the reasons already stated in my ealier post, chemical injection would now seem far more attractive regardless of Rancher falling over. Remembering also that the Rancher gas deal was never more than intermittant flows anyway, was going to take two or more years to get oil flowing from Grieve, be expensive, harder to finance and ELK would end up with less of the project and less value to the shareholders.

As I believe management has already indicated the selling benefit of chemical also being we should only need to finance an initial part of the Grieve field and then from cash flow be able to self fund the remainder. With chemical you can expect early oil retrieval [month] whereas with Co2 [12 months or more]. Cheers