"Construction of the meter station to be built to ExxonMobil’s specification, is underway but was delayed by a late change in the specifications"
Which caused this:
"The target date for injection of CO2 was to be November but potentially may be delayed by up to six weeks because of the need to meet late changes to the design specifications for the ExxonMobil CO2 meter station. Denbury is endeavouring to minimise the possible slippage"
Or the fact that Elk's net cash was down to $460k or less at the end of September? I wonder what the accounts payable amount was at that date? The loan facility had zero credit left on it.
Or that expected admin costs for next quarter are going to be 450k?
Or that expected net cash will be down to $2.9 million at the end of December which doesn't account for any outstanding additional accounts payable run up between the last reported balance sheet and that date?
ELK Price at posting:
25.0¢ Sentiment: LT Sell Disclosure: Not Held