Cheers Dan. Agree about the Aneth purchase. I know Brad wants to...

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speculator101

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07/04/18

10:31

Post #: 32288551
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Originally posted by danpech ↑

No spec, no need to rethink my position at this stage, indeed the current POO has provided even more confidence , especially since Aneth was purchased based on sums calculated with oil at US$ 50, and on a future price of just $51.60 from 2021 onwards. I may be proven totally wrong but with the once in a generation purchase of Aneth at close to the bottom of the cycle, Brad's proven company building and managing ability , I am very confident ELK will become an oil and gas producer of market significance within the next 5 years.

In Aneth, ELK has an asset which I don't think the market fully appreciates. This is a giant onshore oilfield which has another 300 million barrels over and above the current PDP to be captured. ELK's share is approximately 180 million barrels, a mind boggling amount of oil ... and unlike Resolute who had their gaze on their Permian assets, ELK's eye will be firmly on this asset for many years to come and IMO it will be the foundation stone on which ELK will be built.

Cheers

Dan

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Cheers Dan.
Agree about the Aneth purchase. I know Brad wants to get a lot more, but... surely he will have to wait, the sheer amount of debt they have is going to be stumbling block in the near term?
Also agree about the amount of oil they have, albeit a very long production profile.
Hummm. More pondering is needed.

ELK Price at posting: 9.0¢ Sentiment: Hold Disclosure: Not Held
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Cheers Dan. Agree about the Aneth purchase. I know Brad wants to...

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