Well at least we now have a closer estimate of when the BLM might get off their behind and get this approved.
I can imagine this one guy sitting in his little office in Lander with his in-tray full up to the ceiling and Elks paperwork somewhere in the middle furiously typing away on his old IBM typewriter whilst answering all of these annoying calls from various people wanting to know where their paperwork is in the queue and each time he has to manually search through his in-tray to give them an estimate of when he may finally get to it. (best not to disturb him too much)
Looks like Elk and Denbury are looking at fast tracking the oil extraction though which will hopefully make up for some lost time.
In the meantime Ash Creek can proceed and give us some oil in the first quarter of 2013 so for now we can only sit back and wait. In a years time we could have both Ash Creek and Grieve pumping at the same time.
HC
ELK Price at posting:
17.0¢ Sentiment: LT Buy Disclosure: Held