Yesterday’s report of a 3.1mmcfd flow was good but it failed to...

Yesterday’s report of a 3.1mmcfd flow was good but it failed to move the sp. I think two things are weighing this down:
1. no indication yet of the composition of the gas and
2. low gas prices in the US, although the Rocky Mt price has recovered to $3.20/mcf

I looked at HNR’s share price today. It has gone up by 25c ps yesterday and today, even with the oil price down. This equates to a rise of $US8.25M in MC. I think this must be related to the success at Hereford, which if duplicated here equates to about 10cps for ELK.

Monday is likely to see another announcement with a stronger flow from the lower formations and hopefully an indication of gas composition.