Some very good questions raised here and you obviously have industry/local knowledge.
Firstly, why did ELK give it away for $165K? Great question and I would like to know that as well! Remember ELK received both drilling free carry & recovered lease costs with those funds being currently used to test the Grieve Niobrara formation. Time will tell if it was the correct decision.
ELK has known about the Nitrogen component for a long time. I would assume that they have done there research and costing analysis based on the prior results. Therefore I would assume that they have a potential buyer in place for both the Helium and the Nitrogen. I hope that these details will be given in the next annoucement.
DJ
ELK Price at posting:
33.0¢ Sentiment: Buy Disclosure: Held
