Why? because I don't have figures on that....do you? Obviously anyone can look up the current oil price per barrel but i'm definitely not aware of current projected production costs, hence my writing about one (very important) aspect of ELK as it stands now - the man in charge because I AM aware of the significance of him. If you know those production figures I'm more than happy to be educated on those, if not, it's a speculative stock in case you weren't aware. Last reported quarter, approx. $700k was spent and $1.6M remains in the bank after a $3.6M loan was taken on by way on convertable note. That loan was also used to pay out an outstanding debt of $1.75M. The loan will likely be repaid by way of shares in ELK so no money should have to come from the ELK's pocket in regards to repayment. So by those figures, I'd suggest production costs are covered at least for another 6 months - maybe longer given the Denbury situation and that's assuming no $$ are made from production which may or may not be the case. I have a feeling you have been burnt and emotion is running your dialogue here. If that's the case I'm sorry to hear that but previous management didn't come with the credentials that this man does.
CnS
ELK Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
