Ann: Austin expands Pathfinder Property with new acquisition-AKK.AX, page-6

blah blah ---
They're going to be in a very good position if oil surges one day which it will for all sorts of geo-political reasons son.
This is what counts for me---
"“We fully intend to capitalise on opportunities that are coming our way as a result of being debt free, and as one of the few oil and gas companies that is actively seeking expansion during the current down-turn. This strategy sets the Company up for an exciting future when oil prices recover.” Pierre Shale wells do not require expensive long horizontal well bores or hydraulic fraccing and therefore remain economic in a low oil price environment. Austin’s base case production rates at $40 to $50 p/bbl, with a USD$500k well cost, have an NPV of ~USD$1.5 mil to $1.9mil pay back in less than 7 months, and provide profitable cash flows for more than 20 years – these figures relate specifically to the Pierre formation. The deeper oil and gas formations, which include the Niobrara formation, the Grenaros formation and the Greenhorn formation, will be developed when oil prices recover. Each of these formations have 20 year plus production potential.