intelligent management/board

With all of the rhetoric regarding having funding in place, I think it is best to re-iterate some of the pertinent points from my recent posts.

1 - if you actually review the Co2 announcement, there was nothing within that release that made it mandatory for ELK to have funding in place by the end of March 2011;

2 - Management and the Board have demonstrated that they are progressing well with the Grieve funing/JV. Furthermore, they have drastically improved their negotiating position with regard to this funding/JV by commissioning an update reserves classification, purchased a pipeline and easement to transport this Co2 from the Anadarko pipeline direct to the Grieve field which will significanty reduce the capex of the Grieve Project as well as successfully negotiated and secured an agreement to transport the Co2 from Exxon's plant to the new pipeline/easements;

3 - identified that the Environmental Approval process was progressing well with the BLM.

All this means they are now in a stronger position to negotiate the best deal for Grieve. Taking an extra 2 months to put all this place could result in a significant value uplift for the project and ELK shareholders.... This is evidence in my opinion of an intelligent management/Board for ELK.

DYOR - but when you compare ELK to any other oiler that has something close to 20 million barrels of recoverable oil in the ground, with the project to extract that oil as progressed as it is then tell me if the companies market cap. of circa $35 million is grossly undervalued.......