Sept quarter saw Elks revenues around $1mil for a loss of $250,000.......December quarter saw generally higher oil prices and I expect lower expenses, So a good chance of a profit for the december quarter. Which would push cash above $3mil....
Wyoming sour has just recently spiked to around $80Aus a barrel...if that price is sustained Elk would be looking at around $1.5mill net revenue for the march quarter. And with no drilling activity, expect a good profit..Which should make the market look more favourably on Elk.
Elk have been acquiring acreage so any significant purchases may impact the above ....
of course its just small change compared to co2 and JV.... cheers
ELK Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
