Hi MymanValue is all comparative and compared to other oil and...

Hi Myman
Value is all comparative and compared to other oil and gas juniors ELK is cheap. If you think that other companies dont pay wages or burn cash then you are very misguided.

You said "Exactly reflects the true value of the assets" I agree that this is the true value of the assets, if we ignore the upper sands, forget about the CO2-JV and assume that no further acquisitions will take place.

"they look like becoming wildcatters" if you call drilling a well in the middle of a number of old wells that have all flowed oil to the surface from the upper sands then I must have a poor understanding of what a wildcatter is. I am yet to see ELK plug and abandon a well, something that is very familiar to almost every other oiler over the last twelve months.

"I think the co2 seems as far away as ever" At the current rate of co2 usage from la Barge they would only use 10% of reserves over the next 60 years. They are currently venting co2 into the atmosphere. So the co2 is available , the pipeline runs within a few kilometers of greive and the technology has been proven and improved over the last 30 years.
It would have been extremely irresposible for the directors to have purchased the co2, built the infrastructure before they had conducted all the research neccesary to plan a solid project.

Would you rather they rushed in, spend a heap of cash before the organising and planning for the project had been completed or take a little longer and be thorough.

If you want to see over priced companies look no further than uranium and all the nuts that are pushing those shareprices through the roof.
Cheers