some one wants in ?, page-15

binbin,

IMO shareholders don't know the REAL reasons for not being able to source the CO2. IMO it is much different than anything to do with PRICE. I base that on the information that I have obtained from a variety of sources.

From the posts here on HC I think there are many people not happy with the way the voting was conducted at the recent meeting and IMO I'm not quite sure that real numbers came out. I'd like to have the entire matter looked at by a neutral third party.....

The market values ELK at just above 10 cents a share and ONE of the reasons for that is the recent cap raising. And if you look at the trading in ELK shares you can those that bought at 9 cents dumping every time it moves ahead. The ONLY people to blame for this are the BOD and management of ELK. They were the ones that decided that issuing more share was the way to go instead of debt. The 'shares for the mates' program basically shafted every long term holder that didn't get in on the action.

Debt would have been a better way to go and the FACT that they were able to raise funds issuing shares shows that the money was out there, but then again there would have been no stag profits for their mates either.

At the current price per share of ELK what is the market teling us about ELK's potential and the ability of ELK management to turn the company assets into a profitable venture? What is it telling us about the value of those potential 15 to 20 million barrels of oil sitting underground in the hands of the current BOD and management?

It is telling us that it has absolutely no confidence in their ability. Furthermore, those that are talking the profits from the cheap 9 cent shares are telling eactly the same thing! The oil is worth less than 50 cents a barrel or less in the market's eyes.

So I guess that brings us back to another question: why wasn't ELK able to bring in a JV partner, sell part of the field during the explosion in oil prices to around $150 a barrel, or actually do the things it said it was going to do with all that money it raised a little while back?

Right now we shareholders don't even have 'luck' going for us so there isn't much else to do but complain.