"Grieve also only produces at 10bopd now and Denbury have agreed...

"Grieve also only produces at 10bopd now and Denbury have agreed to invest $120mill odd in it ... hardly worthless."

Without the $120 million Grieve is worthless. Just as Ash Creek is worthless right now. Every barrel pumped from there increases the operating loss.

In fact the JV sisgning cost shareholders almost half the market cap of ELK so I guess that is worse than worthless - it cost shareholders some $19 million in lost market cap.