The oil price has bolted. Good news for Elk leading into their negotiation of a deal on Grieve.
With the rapidly rising oil price I would expect to see more takeover activity within the oil and gas sector due to the difficulty and time required to find new reserves. While Elk may not be in the takeover firing line due to its tight nit investor structure it will certainly be a bennificiary of any premium built in within the sector. Could oil company's be the next sector to become a "market darling". BHP has just launched a takeover of $4.7bill for Chesapeake Energy in the US.
Exciting times!!!
The oil price has bolted. Good news for Elk leading into their...
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