heres a thought...., page-25

Aurelius,

I can't say I recall reading a broker report that left me as baffled as the TN report did. Seemed some sort of rehash of the coy's own pr wrt the focus projections. Left me with no idea how much of the GOM valuation was based on discovered reserves and how much on projected future drilling success.

I couldn't see how TN could come up with such a high valuation without also coming up with higher forward NPAT figures than they did.

Also I thought the valuation for China was woefully low, being overly risked and with 1 cps allowed for exploration sucess. No valuation attempted for Moonshine, and apparently nothing for cash held.

I remain a patient holder for now, but not rushing out to buy more, at least not until I have done a thoroughly reassessment for myself, and until tax loss selling is over. Might even sell then, unless the show starts to look better.

Goodluck with your Elk.

EL