Agree Timbo and Pawnking, it's been a long time coming but with Grieve online and at maximum production will transform the shareprice...hence the recent capital raising with insiders backing up the truck to the hilt.
Grieve production to begin with might only be modest but those early flows will see a mad rush on our shares.
Right now, it's not pleasant watching the declining SP when you're already underwater; I'm in the same boat amigo's... but Elk have a firm grip on the Denbury lifeline and several million in the bank(atm). I've done a few back of the envelope figures on potential earnings and even at an oilprice of $70, we'll do just fine out of this venture.
If Grieve produces no more than half what the reports suggest, then I suggest the next few years will still make serious money for those who can afford to snap up more at these levels. I know I will be.
DJ
ELK Price at posting:
16.0¢ Sentiment: LT Buy Disclosure: Held