best news for a year, page-6

This is definitely good news. Management didn't let on much during drilling, maybe they've learned their lesson about being too optimistic in their announcements. The fact that they now want to test this formation and spend precious cash is very encoraging.

Bignote, a flow of 150-200 bopd would be very welcome if we can get it. I would guess if this is successful they may want to drill a new horizontal well to get as high flow rates as possible. I don't mind if they borrow to drill this and pay out of future cash flow. At 200bopd, quarterly revenue would be over $1M.

We'll probably get an announcement Monday or Tuesday on Hereford, Monday week on the Niobrara formation and FID on Grieve chemical flood any day now.

Maybe it is finally about to happen for ELK.