Drilling at Grieve was meant to commence within 1 month from the...

Drilling at Grieve was meant to commence within 1 month from the 10 April but this was dependent upon gaining approval to drill. Government red tape takes time to get through. This drill at Grieve will start as soon as the approval is given.

Also don't forget that the #1 well at Sand Draw South was due to be brought online and that will also help to the 300+ BOPD that ELK is currently producing. I would expect an ANN of this very soon.

Announcement is likely to be that ELK is back producing around 350 BOPD. I expect this to wake up the market. Do the math 350 BOPD over a qtr = approx 31000 Barrells. A significant amount for a company with a market cap of about $17 million with over $4 million in cash. This would provide revenue of about $1.5m AUD per qtr based on that PROD or $6m per annum.

Grieve and Co2 will be icing on the cake when it comes. In the meantime I will be happy with $6m revenues per annum.