ELK 0.00% 1.4¢ elk petroleum limited

dollars not cents

  1. 4,838 Posts.
    Everytime I look at ELK I keep coming back to the fact it has a market cap $15.6 mil and is generating in excess of $4mil per annum revenue.

    A number of investors have jumped ship becouse of the results of the upper sands well. Spat the dummy becouse they did not get a multibagger in the first two attempts.

    Remember it has taken the last 4 years for the broad market to produce a return around the 100%. Elk issue price 20c - 2 years since listing- So in other words a 50% rise would be roughly in line with the general market = 30c per share.

    So far we have not seen any success in upper sands but we have seen success at SDS. If Elk was able to repeat the performance of SDS at a rate of 1 field every 2 years then share returns would be above the market average. And if they do contract the co2 before the end of the year and move reserves to 2p then a multibagger is a certainty. The pipeline is there, co2 is currently being vented into the atmosphere becouse they cannot find buyers for it.

    Not many people out there have any vision, maybe it is just becouse they dont understand the co2 industry.

    Co2 is just about a dead certainty, 12mil barrels 2p reserves, you will be talking dollars not cents.

    Hang in our time will come.

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