Seriously hope you are right as I have a lot invested in Elk.
The end of July is just around the corner. Will be interesting to see if we do finally get our environmental clearance and whether it will result in a (slight??) rerating of the share price.
The Strachan Research report in July 2011 gave a risked valuation for Grieve of $0.35 and an upside valuation of $0.44. Once the environmental clearance is out of the way, things will hopefully start moving along at a quicker pace.
Listened to Denbury's latest webcast and noted that all their EOR projects in the Rockies and the Gulf Coast had at least 20mmbls. Denbury have an enterprise valuation of $9billion and I would be very surprised that they would waste so much time and money on Grieve if they truly believed that it only had 11mmbls.
All the best to all holders.
ELK Price at posting:
13.5¢ Sentiment: LT Buy Disclosure: Held
