someone executing trades at 1 and 2 shares per trade........
lolz .......
mr market fully understands that new debt, implies old debt repaid .......
it also understands that "hedging" is a requirement - se per the chart in the encom preso ...
it also understands that PV10 of PDP, circa 70% thereof is the borrowing base ......
hence - ELK needs to either repay the extremely expensive preff debt, AND get grieve up and running - so that its borrowings will be "reasonable" ...........
the "delay" (sept) just highlights this ......
hence - absolutely zero interest in the stock - and a spread that you could drive a truck throu ......
zzzzzzzzzzzzzzz......................
rgds
Value_Hunter
Ann: Enercom Presentation- Roadmap to 100 mmbbls and Beyond, page-9
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