looking to re enter elk sometime.

elk seems to strongly overshoot on good news,i have tried to hold it long term, but keep having to sell it. done well over the years, but the true believers have been burned. not a bottom drawer stock, but traders delight.

back to low 20's now,and could see a little more seling pressure before 30 june.

lot of emotion in elk share register.

reckon a min stake in elk would give you a look at the next raise,i like the project they have in the works, but think it is quite possible they will raise before cashflow appears from this project in order to develop another one [and keep the office ticking along]

Elk’s focus: Rocky Mountains in USA

• Proven enhanced oil recovery (EOR) province
• Highly rated emerging Niobrara shale oil play
• Three current projects
— Grieve CO2 EOR development project
— Niobrara appraisal well
— Ash Creek chemical EOR development project

this looks "interesting" HB. USA projects bring a certain amount of de-risking in the current environment, but I always worry about Aussie minnows piggybacking onto larger others. And tight oil/ gas has technical issues in the execution. That said, and as commented elsewhere, 'wet' plays have a greater chance of good cash generation, and the pricing is on the market as opposed to contracts.

Market capitalisation: approximately $25.3 million
Cash: A$2.8 million as at 31/03/11 - will have to raise some more. The question, as posed, is when??? First-up project, Grieve, has the joint venture partner stumping up the first tranche but ELK are up for a fairly large amount down the track. Niobrara follows in 2012 - still looking for JV.

Last peak at 0.38, previous peak at 0.465, before that this stock had piles of 0.50 trades, put simply the last few SPP's were too good and should have been taken up. Now a good 0.20 stock. Like to see some ELK production wells online, and then might see some recovery of previous highs, or maybe some thumbs up speculation to push ELK up.

19 cent raising.

will look at it. not compelling, but not bad value either.

They're burning cash mate. Aussie dollar has been kind, US investors haven't got this sort of money outside of Texas, so what do we get if a person can pump gas back into the ground and turn a dry well into growth?

The last annoucement from Elk has me sweating: -

MD and Chairman relocating to the US in January

Grieve nearing completion

Ash Creek project using pilot flood program to acclerate oil production, with new wells to be drilled in early 2012

Potential new EOR opportunities

Insert could be a 6 month breakout pattern emerging, very un-exciting for the short term holder, but could be worth holding for the medium to long term. I already hold some so not sure what the strategy is here except maybe a hold-onto-till bust strategy for myself.

lot worse than elk at these levels. i am watching, but will probably be in and out of a couple of near term drilling things before getting around to elk again.

Market very dead in the water at the moment, the only star would have to be the Gold Sector, with the business OS, it would take a step out of the boardroom to do something good, but we need a much higher price for Oil, and this could happen but who knows when? Market has not reacted with the Iran sanctons as it is percieved that Iran would not do anything like form a blockade, as for the local sector, there is far too much inteference by Politics for me and it is having an effect on how I play my money. Got to look at the clock sometime but who really watches the economic clock all the time? it might be time to do so now!