Q. 'Anyone want to have a guess on what they may raise from the pipeline sale?'
A. $3.2m (guess); ie $100000/mile sounds ok to me.
Whatever they get will be determined by conditions of sale, which i guess would be many; also many other factors which we are not aware of. Denbury could become the buyer IMO.
Whatever the amount, it should be enough to cover costs until cash flow covers costs. I do not think they will want another CR at this time.
ELK Price at posting:
15.0¢ Sentiment: None Disclosure: Held