Three more good points: 5 - Not only Aneth was bought cheap. The...

Three more good points:

5 - Not only Aneth was bought cheap. The Lost Cabin asset turns out to have been a fantastic value that has nearly paid back the purchase price in less than 2 years with literally decades of production remaining.

6 - All 3 of Aneth, Grieve and Lost Cabin are reported - by management - to be long-life assets which will continue to produce long past the periods for which lender-mandated hedges were imposed. As Danpech has commented (several times previously), be happy that management were able to get these deals done (which required those compulsory hedges) . . . rather than grumbling about the existence of hedges capping upside for the near-to-medium term.

7 - The management team has "been there, done that" previously. My recollection is that Brad Lingo . . . plus 2 of his key direct-reports who followed him to Elk from DrillSearch . . . did two-dozen-plus acquisitions in 7 years at DrillSearch. The result was taking the market-cap from roughly $100 million to over $800 million.

My perspective is give all of management, board and strategic investors credit for having both experience and industry-knowledge.

I bought my first big chunk of Elk shares below 4 cents and that's solidly in the money. I bought some more between 7 and 8 cents . . . and I bought again at 10 cents, so my timing hasn't been perfect. But overall, I'm still sitting on profits and expecting the current share-price to triple in the near-term.

Sign me still bullish . . . albeit perhaps prematurely with my previous predictions of a share-price approaching 30 cents before end-August this (2018) year.