Ironically if the merger with ELK had gone ahead we would now be sitting in a cashflow positive position with near term significant upside, albeit heavily indebted. One thing I will give current management is that they aren't jumping into any stupid deals for the sake of being an O&G coy. Slow and steady, but at some point the floaties need to come off and we need to start swimming.
MEL on the move.?, page-4
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