Personally I dont think that it will get much lower.
1. Co2 could be annouced any moment 2. ELK is in a better position post the P&A as they recouped lease costs and didnt pay for the drilling costs 3. We now know that the Crow acreage will be developed in 08 which is a high probability play 4. SDS is a cashcow and underwrites the SP @ around 40c so Grieve & other plays are not factored into the current SP 4. I really liked the annoucements and am backing up the truck!
I have bought close to 60,000 shares over the last 2 weeks and will buying more 50-100K more shares after I close a few other positions.
This will be the last opportuntiy to increase holdings without moving the SP before take off!
Cheers DJ
ELK Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held