New research, page-9

Hi Resurgam

In all honesty I can't answer your question with any credibility. I am not a reservoir engineer with access or understanding of the data that would allow me to say anything that would actually mean much as to the chances of success. All I can say is As far as I am aware the operator Denbury or Elk has not indicated that they are concerned about grieve coming online as expected.

One interesting fact that is pertinent to Grieve which Brad has mentioned relates to the way the co2 has been injected into the field which may have a bearing on the success of the project. As far as elk is aware, due to the delay in completing the development when Elk and Denbury were in dispute before Brad came on board, co2 has been injected into the field prior to production for a much longer period than any other field . This means that the co2 has had a significantly longer period to dissolve into the oil which could result in the field performing above the model

Lets hope that turns out to be the case!

Cheers

Dan