Elk announcement from 23 Oct 2009 re Grieve #39A stated:
"The best shows seen while drilling the Grieve Unit 39A were in the Niobrara Formations at an average depth of 5300 feet. After a thorough regional review of Niobrara stratigraphy and completions, the Company decided to test the interval in the Grieve Unit 39A well. The test results are interpreted to indicate that the Niobrara Shale is a low permeability mature oil source rock interval at this well location."
From reading the announcement, I assumed that Grieve #39A was also located on the Niobrara Shale formation. No need for such aggressive language.
ELK Price at posting:
10.5¢ Sentiment: None Disclosure: Held
