Ann: AKK expands asset base in Colorado with acquisition of adjac, page-55

First 55 Last

Share
Profile

Follow
Nanood

7,012 Posts.

20

09/12/16

19:35

Post #: 21238403
Share

Originally posted by Sector ↑

I think a few things first, you are comparing $930k vs $96k bank.

But reality is, you can't use 365 days for 22 wells ever in O&G, as you are bound to have issues with a few and workovers during the year, and others dropping off, and completely unworthwhile.
I personally always use 330. (days)

So some may be producing 1boepd and others 10.
Average is 2.4 max, but doesn't tell you age and state. (maintenance capex)

Max Rev imo pa is $850k year 1, but that's GROSS. Again, NRI, transport, rocky discount etc all pointed out before.

Acquisition is AUD$2.677m at todays rates (where Gasseds math failed first base)
as it's $2m USD, and raise is of course AUD

It's designed to keep the admin lights on, but with such an end of life asset, the growth needed to come from all the past hype over the new low cost verticals.

This move fails to address any current operational plan with the current acreage and fails to raise any money for drilling, a supposed "new oil field" already high graded with seismic.

What it tells me, is a red flag on confidence in current plan for Pathfinder as existed due to the excess gas found in well 2 and 3.
Read all past announcements on current plan, and tell me they are on track?

There is no money to drill and complete a single next vertical well...as they are now "testing" and reviewing "results"

I estimate CR 5 will be before end Q1 CY2017 as telegraphed before.

Expand

That's what I was trying to say but just couldnt put it into a coherent post

AKK Price at posting: 0.6¢ Sentiment: None Disclosure: Not Held
1 Upvote

0 Great analysis

Reply

Top Stories

Trump Victory Sends Bitcoin Surging Above $75K – Is $100K Next?

HotCopper Highlights: Your most watched and most discussed stocks this week

MLS

Metro Mining inks bauxite offtake contracts into 2026 with Chinese m

Trump is President Again: What Does This Mean for Crypto?

INA

Imugene kicks off Australian trial for blood cancer treatment

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

UBI

Universal Biosensors flat despite fresh deal with US medical product distributor

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Week 45 Wrap: Combat sports usher in Trump 2.0 – or is it male insecurity?; RBA boring; Propane suggests China alive

MLG

Flynn Gold reaches milestone exploration target for Golden Ridge

There are more pages in this discussion • 23 more messages in this thread...

First 55 Last

Add AKK (ASX) to my watchlist

Ann: AKK expands asset base in Colorado with acquisition of adjac, page-55

Top Stories

Trump Victory Sends Bitcoin Surging Above $75K – Is $100K Next?

HotCopper Highlights: Your most watched and most discussed stocks this week

Metro Mining inks bauxite offtake contracts into 2026 with Chinese m

Trump is President Again: What Does This Mean for Crypto?

Imugene kicks off Australian trial for blood cancer treatment

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

Universal Biosensors flat despite fresh deal with US medical product distributor

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Week 45 Wrap: Combat sports usher in Trump 2.0 – or is it male insecurity?; RBA boring; Propane suggests China alive

Flynn Gold reaches milestone exploration target for Golden Ridge