Well it appears that despite the best efforts of those in charge...

Well it appears that despite the best efforts of those in charge ELK will have enough cash to make it through the next 9 months unless it does something really, really stupid.

While we'd all like to see the ELK share price as high as possible, I think that before the oil starts flowing and the share price is lagging, ELK will go the way of many Oz oil companies: an offer will be made, the company will be taken over, and shareholders will be given the short end of the stick.

So I'll say that while ELK share should be valued at much, much higher prices, the past history of the company as well as the BOD and management of the company totally negates that value.

So my guess is that the company will be taken over at around 60 cents a share and there will be no ELK trading on the ASX or any stock exchange in 2013.

So: 60 cents and bye, bye, ELK.