ELK are sitting on conservatively A$2.3 Bln of oil, not sure how much would be profit, however I esimate 50% is very conservative. So $1 billion profit should be made over the next 6-8 years or so in my view if the s/p doubles today the undiluted market cap will be $82M. hugely undervalued even if it closes at $1.35 today.
And who knows where the oil price will be once this baby starts flowing... I reckon its not going to be lower that's for sure!
ELK Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
