ELK elk petroleum limited

Frustrated you bet!!!! I have spent the last 12months banging my...

  1. 4,837 Posts.
    Frustrated you bet!!!! I have spent the last 12months banging my head against a brick wall with this company and the people involved. The rubbish Elk serve up to shareholders is a disgrace. I spent months chasing ELK about the mistakes and issues that continually plague the Elk financial reports. Management refused to acknowledge the errors..
    Is this latest report a joke on Davo??? Are you all in on it????? Is it april fools day?? Why do I get the feeling my 4yo daughter could do a better job?????
    Jo is incompetent and that is being generous!!! Andy this is a joke!!!!
    I havent read Andys report, I just go straight to the financials becouse they dont lie, oh wait a minute this is ELK where the figures are nothing but mistakes and coverups.

    "Net increase (decrease) in cash held (960)
    1.20 Cash at beginning of quarter/year to date $1,164

    1.21 Exchange rate adjustments to item 1.20 $515

    1.22 Cash at end of quarter $719

    "2. Item 1.21 reflects the foreign exchange on cash balances held" They make this statement at the start of the announcement and then proceed to tell us we made $515k through exchange rate adjustments. Why would ELK bother with oil when they can trade currencies at an absolutely spectacular profit??? Now if you dont beleive they made a 50% profit trading currencies then one has to ask the question,how much money do they really have??? Is this why they had to spring an SPP when we thought they were right for cash???

    I suspect the current report contains all the errors from previous reports as has ever other report for the last 18months....Total disrespect for investors!!!! So when analysing the Elk numbers add a pinch of reality shovel full of bull*....The current rubbish they call "June Cashflow report" I suspect bears no resemblance to what actually took place!!
 
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.