You stated: "Laterals can increase production many times. If Elk had of recovered sub economic amounts of oil then horizontal drilling could have made it an economic play. Problem is nothing multipled by nothing is still nothing."
My response: The lack of oil results was only from one drillhole. All i'm saying is that there is still a possibility that better results could be found in other parts of the shale. As stated by the company, "the permeability and fracture density increases where the rocks are structurally folded and there is some evidence of this in and around the Grieve field". Also, they have yet to identify the source of the initial oil shows that resulted in them testing Grieve #39A in the first place.
I have been holding my shares for as long as most of you and I am also significantly down on my initial investment. I am well aware that there is a strong possibility that nothing may eventuate but the hostile responses and accusations of ramping by some on here are totally unnecessary.
ELK Price at posting:
10.5¢ Sentiment: None Disclosure: Held
