ELK elk petroleum limited
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material capital raising, page-19

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    374 Posts.
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    31/03/09
    18:27
    Post #: 4964343
    Poor decision IMO if it is to raise equity now

    They have an upper sands test in the next 4 weeks or so. Heaven forbid but we may actually strike oil. We know they have enough cash for at least 2 more quarters so why not wait??

    Sit on 20mill barrels of oil through the biggest price spike in history, do nothing and then raise equity at the lows... Crazy
    ELK Price at posting: 16.0¢ Sentiment: Hold Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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