So they get a show of oil on the dipstick.... another report, an upgade on resources..... the oil is still in the ground... I think the other fate that ELK may suffer due to the protracted nature of moving ahead is staleness.
There needs to be some identified and sustainable momentum that is moving towards production.
It is now 8 months since they drilled a duster and 14 months since Grieve got 3P.... that standing for possible of course!!! So.......................... what's been going on for the last 14 months???? At this rate it will be winter again and we can kiss goodbye to any immediate momentum.
regards
Hectobar
ELK Price at posting:
17.5¢ Sentiment: Hold Disclosure: Held