According to the spp announcement ELK are intending to drill...

According to the spp announcement ELK are intending to drill more shallow wells at Kakadu. Why spend money on exploration when they have failed to commercialise Hereford. Which they cleary thought was borderline economical in the first place otherwise why would they have given it away for peanuts. Even if they did make another discovery the timeframe to production and costs involved of a pipeline are way beyond ELK for now, as yet we have not even secured funding for grieve. Elk should be investing any money they raise in Ash creek and ash creek only until they they can increase revenue and be self funding. ELk have shown time and again their lack of understanding of the importance of cashflow. Dejavu...Have I said this before???

Interesting that someone has just decided to put in a $50k bid at 10c.