re: Ann: Quarterly Activities and Cashflow Re... Clearly ELK is...

re: Ann: Quarterly Activities and Cashflow Re... Clearly ELK is a company that predominantly issues shares and has a sideline looking for oil. $1.5 mill expenditure per quarter with current quarterly receipts of $290,000... can't find my glasses.............. oh hang on $29,000..... yep thats about $300 per day ... that would be pumping out a whole 3 barrels of oil per day. Why would I have thought $290,000 in receipts............ohhhh hang on that's the production costs..... yeah right spend $3000 per day to make $300 per day.... but hey this is a lean administration right.... it only spent......... $474,000 mmmm about a third of all costs on administration.

Well we are close though right??? So those extra shares issued are a good thing.... and at this price we are buying a bargain prices right??? I mean hey what's a 22% dilution witht issue of a further $32 million shares.
Still holding because the financial year ain't over yet.