Sushi I suggest you put together a spreadsheet and load the numbers using Copperpots model, then add your cash burn in the opex, the reality is that when it starts pumping it will easily overcome the 7M debt to Denbury with the 450k burn rate factored in , then there is upside of high side of what could be there as factored into a P2 once testing can commence after the pressure runs up. We could easily get +2-3000 barrels if we follow the normal recovery spike.
ELK Price at posting:
24.0¢ Sentiment: LT Buy Disclosure: Held