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Elite Pharmaceuticals, Inc. Message Board

benjamin.cahn 1 post  |  Last Activity: May 10, 2016 7:38 PM Member since: Apr 5, 2010
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  • they only drilled down to 1600 feet on CV4-6, which is where they said it wasn't looking promising.

    However, further down the press release, buried among the scientific mumbo jumbo, they say that the seismic data indicates that the southern basin extends as low as 4900 feet, and that saline brines are much more dense and therefore tend to sink.

    So, the company says they're going to return to these same wells to dig even further, AFTER first defining the northern resource area.

    Not only that, but they've made progress in the northern area. Apparently, they dug through a couple layers that a nearby mine also dug through, which bode positively for that company. So, it stands to reason that HMGLF could experience the same success, since they've dug through the same layers.

    There's actually a lot to this press release, and a lot more potential to come.

ELTP
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