Yes, I know that I've off the boards a while and not keeping...

Yes, I know that I've off the boards a while and not keeping track of everything going on in the market, but there seems to be a big disconnect between reality and some of the price and action in some of he shares being traded on the ASX.

I'll give one example: GDN.

Again as I haven't followed this one for a while I was quite surprised to see it still around. I was also quite surprised to see that it has over 400 million shares outstanding, the darling of the traders, and was able to get debt financing for ONE well to the tune of $5.5 million (Please correct me if I am wrong about that one).

So a market cap almost $30 million, debt of $5.5 million (for one well), and less than $100k in revenue for the last quarter.

Now compare that to ELK, about 1/4 of the shares outsttanding, basically no debt, and HALF the market cap, and unable or unwilling to get debt to finance operations.

It has between 5 million and 20 million barrels of 3P oil, a bunch of other prospects, and one well that has had good NG flows (For which the brilliant lads at ELK gave half away for about 1/4 of the funds that they blew when they distributed the unallocated shares from the SPP at 9 sents when the price was close to 20 cents!!!).

So I guess that it means that the market values ELKS's prospects less than one well being drilled by GDN.....

Crazy or what??