Cmon. I'm not being paranoid here and assume that you are speaking about AKK's management, of whom, I have made the same indirect possible view of their "logic" in buying those 2,436 acres for $2 million, which, clearly, they bleeding well cannot afford and should they buy it even if they could afford it!!! I hope that's who you mean???!!!
The only way that that view of mine can be totally dispelled is for management to tell us why they REALLY bought that property.
They already had 15,777 acres in that area, which, clearly, they will have to find some great friends, including their own shareholders, to pay for the exploration. Are they saying, gee this area has huge potential and we want more of it, or, maybe, let's buy it, it's "going cheaply" and when we prove up more of what we already have, flog it off at a juicy profit, keeping in mind some fool paid $20 million for it just a few years ago. "That would pay for a few wells wouldn't it"???
Where they stand at the moment, that 400+ wells that they have "potential" of drilling, is simply out of their budget and will need serious joint participation or a huge injections of cash. Or, do they truly intend to stretch this out for many, many years and pay for each drilling programme with the proceeds of the sale of whatever oil and gas they produce?
Are they being "illusory" , or, are they really smart?? The next two anns will tell us very much about how they will be judged. Only a major subscription to the CR will satisfy me that, maybe, it is the latter after all.
AKK Price at posting:
0.6¢ Sentiment: None Disclosure: Held
