niobrara, page-11

Dear davo,

You make my point: Denbury is doing it all. Nothing to do with ELK. With DENBURY doing the work and putting up the money, G will be done.

Of course they'll get the majority of profits if and when the oil flows.

And I keep asking the same question and getting no reply:

What are ELK going to do with NO CASH?

You can have the best ideas in the world or an idea about buying the best bargain in the world, but if you have no stash or access to credit (LIKE ELK) they fall down.

So I repeat my question:

Why are you so fixed on ELK expanding into other areas or projects when they clearly don't have the funds or credit to do so?

It is simply impossible.

And a year or two down the road if and when ELK does get their hands on the cash from G, what makes you think that they can do any better with it than they have over the past five or six years when everything they have touched has turned to dilution or losses for shareholders?

Dream the dream, but reality is different and the ELK share price of 19.5 cents proves it.