read it and weep: elk 2012 annual report, page-2

Robynjackson,

Thanks for taking the trouble to highlight a crucial point from the Annual Report. I was already aware of that fact but I'm sure there are other shareholders who will benefit from your research.

However, like I said before, even if you use a very conservative $10/bbl for ELKs 35% share of Grieve's 2P reserved, you still get a valuation of $65m or 43 cents/ share (vs current price of 27cents) and that's not even taking into consideration Ash Creek or the Grieve pipeline.

Your posts give me the impression that you've been burnt by ELK in the past. Perhaps it's time to forgive and forget.

Keep up the good work :)