RisktraderA share price of $4 would only give it a mkt cap of...

Risktrader

A share price of $4 would only give it a mkt cap of $240 or valuation of $10 per barrel. 12k barrels per day at an oil price of $90 p/b would see daily revenue of $1.08million be generated or about $400m per year be generated.

Say we use $30 per barrel to estimate its gross proceeds, ELK could produce profit in the order of $135m per year, a forward PE ratio of less than 0.5!!!

Wyoming has outstanding infrastructure and intellectual capital with regards to C02 flooding. The costs to setup will not be overwheming and hopefully if a good JV parner is found, ELK may free carried until production.

Cheers