I did say that and when Cmon and sector lead alerted me to the fact I was way off I spent the night reading up on AKK , reminded myself of their history , refreshed my knowledge on shale economics , took on board commentary that the 790 ft column means nothing without working out net pay , read all the rubbish announcements of the last 3 years and received a personal email from a friend who occasionally posts here who has a great detailed understanding of shale economics telling me how way off I was. You see I too took the bait of the new start , until I realised that once again they are spinning and the economics simply don't add up. Even their neighbours COI who are mentioned as some kind of successive story who have drilled 22 " commercial wells " ourt of 25 have lost 65 m and are no focusing elsewhere
I realised my error and was a little embarrassed I had been sucked in by the clowns , but was lucky enough to exit at 1.1 the next day. That's why I am on here, to be reminded of when I am being stupid , and to get ideas from others. Hopefully I sometimes contribute to good FA discussions that people value
Humility is a gift in the markets , as is the ability to accept when others know more
In my view Cmon is a leading FA authority on shale and I consider myself very good on the CB conventional, so instead of arguing my position , I sought to justify it to myself and I simply couldn't
AKK Price at posting:
0.6¢ Sentiment: None Disclosure: Not Held