ELK 0.00% 1.4¢ elk petroleum limited

Robyn, thanks for your post. unfortunately, it appears as though...

  1. 248 Posts.
    Robyn,

    thanks for your post.
    unfortunately, it appears as though you are the one who is a long, long way off.
    lets talk facts:
    Denbury has delayed the project - fact.
    The only permissible method of transporting oil from the field under the regulatory approval (BLM) is to use the Grieve Oil Pipeline - fact.
    the BLM approval had heavy conditions regarding the only permissible way of transporting oil from the field is via the Grieve pipeline - fact.
    Den bury refused to enter into a tariff with the pipeline owner (ELK) as typical bully boy, big brother tactics got the better of them and they thought they could pick up the pipeline and ELK's 35% cheaply if ELK fell under financial pressure - fact.
    the ELK board has now prompted a competitive process in the market which is more than likely to flesh out big players to buy the 35% and Grieve pipeline (due to its leverage over the 65% partner as well as rights to 35% of the unused Co2 - fact.
    This will either bring Denbury to the table to purchase the remaining 35% and Grieve pipeline or potentially deal with a Devon, Anadarko of ConocoPhillips who have all showed interest in the project in the past and would not mind playing hard ball with Denbury on all of these frustrated matters - fact.
    either way, ELK is in a position on strength despite being the minnow it is against Denbury - fact.

    look forward to receiving the bids and returning some money to the shareholders.....
 
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