Ann: ELK Update , page-9

Actually at that time the only reason they commissioned an updated RS report was to get a deal over the line, RS were dragging their feet and so once the deal was done I think Bob cancelled the RS report and nothing was ever produced.

As Wickerman says Denbury are very conservative and it is in their best interest to be so. We will only be able to judge just how conservative once the oil starts flowing which I feel will be late 2012 or early 2013.