Gap closing.......Wyoming sweet only $1 under WTI....Wyoming sour over $90US a barrel.. Elk net revenue over $20,000Aus a day....on these prices equates to over $7milAus per annum to ELK.....
With the significant rise in oil prices....Over 1mil barrels 2p reserves from SDS (majority are producing).......+ greive well which produced an average of 27 Bopd last month......A market cap of $28mil....Net revenue from the 2 fields over the life of the projects around $95mil at current prices....
The Question is, does that mean that currently there is no value at all attributed too, 23mil barrel co2 flood, upper sands where the smallest sand left to be tested looks like having over 4mil barrels (imagine if a couple proved to be productive), new acreage that will be cheap to drill and has potential for significant gas reserves, the main producing formation at Ash creek that has the potential to be reworked like SDS (was producing when it was shut in)....???????????????????????????????????????????????????????????????????????????????????????????? Cheers.
ELK Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
