ELK's soon to be released March quarterly and the imminent drilling of Grieve should see ELK rise to 50c+.
With a market cap of $20m, cash of $5m and revenues set to triple or more from the Dec. Qly, ELK is fundamentally cheap.
ELK must now be very close to cash flow positive and profitable and is likely to double daily production to around 600 bopd in the near future.
The key to ELK is that it is has on very large known oil reserves, is continuing to increase production and a JV deal on its proposed CO2 strategy could see ELK rise rapidly towards $1/share.
This company is a little ripper.
ELK Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
