Elk must get on and do deals now.....the global economy has...

Elk must get on and do deals now.....the global economy has recovered slightly, people are feeling more optimistic than a few months ago.....now is the time for ELK to do a definate deal on Grieve......

Over the longer term oil is sure to rise, however in the short term it could go either way.....ELK ended up in deep trouble after barely 3 months of lower prices, that were still high by historical standards.....what happens if the global economy and thus oil takes a dive again, and this time it turns out to be sustained for 6-12months, ELK as we know it would be destroyed....there is plenty of literature to support the fact that there is significantly more deleveraging to be done, the US is in effect insolvent and oil use is in decline......oil in storage is significantly higher than normal to the point where facilities cannot store anymore...OPEC exports have actually increased slightly, there is always the potential for opec nations to one by one start turning the taps on to increase revenue, then you would have a massive glut until decline caught up to falling demand....

So ELK need to act and act now......Yes better deals may be available in the future, but at the risk of the company going belly up in the meantime....at some point ELK need to progress this company, if nothing ever happens the oil will never be recovered.....if chemical flooding is successful then there are thousands of fields al over the US waiting to have this technology applied...

I am certainly starting to get nervous that management may never be able to pull of deals!!!!!