how quickly things change is amazing...volatility is huge....a few months back I thought that with low gas prices ELK would do well to focus on oil recovery.....now with the price of oil plumetting and gas prices holding quite well, gas is once again looking favourable ....even though the gas prices are marginal for many producers, costs should start falling quickly as the industry slows down......and certainly shallow low cost biogenic wells should remain profitable.....Encana made a good go of biogenic gas well before prices shot up..... Cheers
ELK Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held