poor elk

Poor ELK and its shareholders (including me). Finally after almost six years after buying Grieve they finally have a plan to develop it. Too bad it is going to take another 3 years to get the oil out via the EOR CO2.

Another poster commented that the agreement was a 'good deal' as ELK only paid some $700k for it.

Unfortunately that ignores the millions of dollars spent by the company on useless studies, plans, drills, and other things such as salaries for company employees to do all of the above. And the shareholder dilution as well.

ELK started with some 38 million or so shares. It now has well over 100 million and we still don't have the oil.

Poor ELK shareholders finally get the 'boxes ticked' and a 'company making announcment' and the shares go nowhere.

Another market darling announces a stinky little well with an unlnown IP and unknown average rates and the shares go up 10% adding $20 million or so dollars to its market cap.

ELK?

A $2 million pop on a minimum $65 million injection.

So much for market recognition.