2012 - 2014

2012 = Six weeks from Wednesday, so time to look ahead and assess the potential...

Assuming we get the green light EM, 2012 will provide plenty of progress points for ELK shareholders. Production before year end... that will be massive for the company.

There's the core well at Ash Creek that stir a little interest, particulary if it results in decent production.

For those in for the long haul, what are your SP expectations for 2012, given the transformational JV with Denbury and the recent cap raise, which has dented the upside somewhat.

My crystal ball sees that EV of $100m for Grieve being steadily built into the shareprice over the first half of 2012, with a solid push towards $1.00 once production begins.

From there it all depends on flow rates. If things head torwards 12,000bopd at Grieve, and oil bumps along around current levels $2.00 is not out of the question, especially if AC comes online in 2013-2014. I'm guessing we could see another 1000bopd from that field and by then we will be funding anything else out of cashflow.

Who's in for 2012 and beyond, and what are your thoughts?

DJ