hectobar, page-2

Hi Bin Bin,

I reckon that flatters the content of the post!!! Quite frankly I'm perhaps not as cynical as some other posters these days... I think previously before everyone got dirty on the directors I was trying to be balanced rather than euphoric. Now of course I'm disappointed with the dilution but what's the point in having a % of something that's doing nothing. I traded in and out a bit earlier on but I'm stuck in the fifties as an average and don't want to take a loss just yet... if ELK manages to get back to the forties I'd probably get out... not because it has no hope at all but because I can use the money better elsewhere!!

I figure we have about 6 months or so before winter bites over there... if a rig is actually secured and the drilling goes ahead.. and a chemical flood is progressed, then there's plenty of upside still to be had but I'm not keen on holding on if there's no sign of progress in the next 6 months.

I'm the first to admit that hindsight is a wonderful way of interpreting the past.. but y'know... when a co2 deal was not done there was a lot of back slapping about how good Andy was, how clever he was for holding out when the pipeline went straight past ELK's front door... it was a shoe in that a great deal was going to be negotiated to take all that dirty co2 for a pittance... but as that faded away... the chemicial flood was obviously the best play.. now it seems to be a case of wanting to spank the directors for not securing a JV... bottom line for me is anything.. and I mean anything that you invest in that is something coming out of the ground is risky. The more developed it is of course the less risky. ELK, BUY and GBE are my speculatives at the moment and I would not be putting my house on any of these... from the three, GBE is by far the stand out. I mean seriously gold and oil specs have been with us since the stockmarket started..nothing has changed other than we should technically be able to make better calls on the basis of the massive amounts of information now available.

Hey Bin Bin... given my now elite status as a cult figure... if you want my three top tips for the next 6 months, let me know!!!! ;)

regards

Hic.. Hic.. Hectobar