Well right about now, the market should be in for an onslaught of news pushed out by Elk management in advance of the long awaited refinancing. We know that Elk is trigger happy about pushing any news that might create a whiff of positive interest in the stock, hence the 3 peat that Elk was presenting at an energy conference recently and the much peddled pathway to 100 million barrels. However, in Elk's case the slogan that no news is good news is unfortunately not the case. Elk is at its most dangerous when is it not making headlines with a well deepening that results in 150 barrels a day.
So here we are waiting and hoping that the silence does not mean that Grieve is a dead duck and that the half a dozen well deepenings are not frothing up water. We are 60 days + out from the make or break financing of this company and the constructive silence, not a trademark of Elk's, is deafening.
ELK Price at posting:
7.4¢ Sentiment: Sell Disclosure: Not Held
