The company bills itself as the only Enhanced Oil Recovery play...

The company bills itself as the only Enhanced Oil Recovery play on the ASX . They say (or said) they wanted to take CO2 EOR to Australia and Asia .

Whilst a purchase of the remainder of Madden would tie in a larger CO2 resource , the main focus would appear to be methane .

I don't think Elk would have the scale to sole risk the very expensive exploration wells to find more gas at 20,000+ft .

If not , then they may end up overall with the same amount of methane reserves by just be drilling the deep wells as a J.V. with CP .