what the..., page-28

DJ
at Ash creek Elk are re-entering old wells rather than drilling new ones......considering infastructure is in place any success would prove commercial and low cost....

I think developing the biogenic gas play will be out of ELKs financial reach.....I suspect however it will be a case of drilling wells to prove up reserves and then bringing in a big industry partner to develop the acreage...and that could get the market excited....but all up it is going to take time....

Gas prices in wyoming last traded for $1.6mcf...averaged around $2.8mcf for the last month.....I am not sure of the pricing point for the Biogenic acreage but suspect it is probably similiar to Wyoming (hope i am wrong) in which case I would be interested to know what price we would need for the project to be economical ....it is the shoulder season so prices will rise in Winter and summer.....Current gas prices I suspect will get managements focus back on oil rather than gas........
cheers