Please stop trying to hype the company by bringing up something that in reality has nothing to do with ELK.
The Nibrara Shale is the hot spot in the USA and trying to piggyback ELK on that won't work.
I'm sure that the shale extends to Elks property and probably way beyond that as well - a formation usually doesn; just stop. To infer that the hot spot Niobrara characteristics would also be found in and around ELK's land is meaningless and pure unadulterated hype.
As you posted:
"They have to date not performed any horizontal drilling to test the shale as it is quite an expensive exercise and the company doesn't have any spare cash at the moment."
That is 100% correct: the company doesn't have any 'spare cash'. IMO they have very little cash at all as they have had to resort to telling people that they were going to use refurbished pumps for the AC wells.
The clock is slowly winding down on ELK and the mismanagement of the company by the BOD and management.
Nice try, butit is too late and people are too smart to fall for this kind of hype this late in the game.
ELK Price at posting:
10.5¢ Sentiment: LT Sell Disclosure: Not Held
