Ann: Financial advisor appointed for potential Grieve acquisition, page-6

I suggest you go back through the posts over the last 5 or 6 years when the whole asset was Elks to begin with and the time line went something like this :

1. try and aquire funding to develop the asset - To risky, no one will provide the funding for 100% even though Ryder Scott provided several reports with the 2P recoverable oil, oil price $120 bbl
2. Look for a JV to take 30% of the project and fund the development oil price $120 bbl - No takers
3. try and aquire funding to develop the asset - To risky no one will provide the funding for 100% even though Ryder Scott provided several reports with the 2P recoverable oil, oil price $100 bbl
4. Look for a JV to take 50% of the project and fund the development oil price $100 bbl - No takers
5. try and aquire funding to develop the asset - To risky no one will provide the funding for 100% even though Ryder Scott provided several reports with the 2P recoverable oil, oil price $95 bbl
6. Look for a JV to take 65% of the project and fund the development oil price $90 bbl - Enter Denbury who predict first oil in March 2015.
7. First oil early 2017 attempt to aquire funding to buy back the 65% and an additional $70mill, oil price $48-$50bbl ??????