elk to sell the pipeline, page-5

Really quiet simple Hecto , Elk was always going to retain a 1:3 interest in the pipeline to guarantee access for our own oil from Grieve or any other oil we may need to send to Casper in the future and this also ensures a very reasonable usuage fee into the future which a lease arrangement could not fully provide . Looks like Denbury will need to pay market rates to send their share of the oil down to Casper.....they were given ample opportunity to finance the pipeline

Credit also needs to be given for the $9million price obtained where it was previously hoped we could secure $5-$6million in value.

Along with the house being put in order to save costs prior to first oil flow from Grieve [ as early as first quarter 2014, I suspect] I believe our new CEO certainly sees himself picking up his $1.20 and $1.50 share incentives well ahead of the time provided and that will be well deserved on his part in turning this Company around

I believe a research study undertaken recently presently values ELK [ with only 167m shares on issue ] at 80cents per share along side some of our peer groups listed in the US. A US listing I believe will be very helpful sooner rather than later and could be obtained in a number of ways at very little cost

Looking foreword to a very significant rerating of ELK's shareprice in the very near future . Cheers to all the long term believers , things should really turn around from here.