silence - all around

Since the meeting the silence on the board seems to say it all.

I find the results reported to be quite interesting especially the numbers.

Res 1: For: about 8.9 million; Against: about 2.6 million.

Res 2: For: about 6 million; Against: about 2 million


While a large number of share were not eligible to vote on the above resolutions, from the talk on HC it would appear that the against number were quite low.

Any comments?

I also find the comments posted by davo on the inability of the board to answer the question about the use of funds to be very distressing.

If the amount was in the hundreds of millions I would expect problems, but we are only talking about chicken feed here.

I also find it quite interesting the least to see that 10% of G was offered at $2 million and there were 'no takers'. I wonder what the 'conditions' were on that offer?

IMO the board's stupidity probably led to the result of no 'takers' especially if one was interested, but could decline due to the state of Elk's financial position and try to hold out for an even better deal.

I guess it all comes down to getting the oil out and so far our bunch of incomps has shown that they are unable to do that despite millions being spent so far.

And what is the status of the well that was supposed to be drilled?????