"Have We Done Enough?" We had done enough. The results did not justify spending anymore cash. Making observations while drilling wells for the Muddy would be common sense and is significantly less than the above heading would imply. Of course at the moment we do not have an EOR project, No funding for chemical flood, no co2/funding for co2 flood, therefor no drilling to make observations.
Management mentioned the potential to JV the Niobrara. An experienced operator may have more faith in their knowledge of the Niobrara to justify spending money. Can ELK get it across the line???
Just becouse a well in another location produces from a certain formation does not mean it will at the Grieve field. Does the Poison Spider field produce from the muddy formation??? I dont beleive so.
Cheers
ELK Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
