I believe that the field was producing 20bpd when it was shut in therefore these flows rates should be sustainable over the medium term which means increased cashflow and Im surprised that the ELK SP has not increased today.
If ELK decides to certify the reserves, then the field is bankable which means we could seek less expensive mezzanine debt for Grieve.
The thing that frustrates me is why wasnt this done 3 years ago!!! Im so happy that we are out of the stupid JV.
DJ
ELK Price at posting:
14.0¢ Sentiment: Hold Disclosure: Held
