......."Elk Petroleum ran to 59.5 cents from 55 cents. This is a blue sky punt and one to stay clear of until such time as the technology is proven and the CO2 supply assured. We don’t know what Ryder Scott will say but the U of Wyoming’s assessment of the oil potentially recoverable at Grieve is a real long shot."
....it is a lack of understanding like this from the oil and gas industry that has allowed us to get into ELK so cheap...as for technology being proven, where have they been for the last 4 decades of co2 production of oil in the US?..... they are seriously behind the times, obviously yet to discover google, if they had they would realise in about 10 minutes of research that co2 injection has been proven to be economical even at sub $30 oil....
U of Wyoming a real long shot??????....hello, who are the experts???who spent months analysing every little bit a data available on a field with around 50 years of production history?????....funny to see expert opinions from those who didnt even realise the technology exists...which can only bring into question whether they are expert opinions or in fact amateur opinions?????
But then again....last time they bagged ELK they bought in the following week...so might be a sign that they are keen to buy some more and think a bit of downramping might help lower the price.....they sold last time for 45c having bought at 43c.....nice 2c profit....
Jocam please feel free to join this discussion...
cheers
ELK Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
