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The Catalyst: |
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Austin Exploration (ASX:AKK) is just days away from announcing its first proven oil and gas resource, in which we expect the company to announce the discovery of a large oil and gas deposit at its Pathfinder project in South-Western Colorado. |
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The release of the maiden resource is expected to propel AKK towards its goal to become a major onshore oil and gas producer. |
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The Expectation: |
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In December last year, AKK entered an agreement with Incremental Oil and Gas (Florence) LLC to acquire 100% of its Florence Oilfield acreage and oil production in Colorado for $2M, giving it control of approximately two thirds of the entire Florence field, the second oldest commercial oilfield in the US, dating back to the nineteenth century. |
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AKK is aiming to restore the field to its vibrant and robust historic oil capacity. |
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AKK’s reserves are deeper and thicker than what was previously found and therefore it has significant potential to exceed volumes of what has been previously estimated for the region. The size of AKK”s landholding is enough to drill more than 400 wells at a scale that could be worth hundreds of millions of dollars. |
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The information in this email should not be the only trigger for your investment decision. Click on the link below for a more in-depth and informed examination of the company. We strongly recommend you seek professional financial advice whenever making financial investment decisions. |
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AKK believes the majority of its oil and gas reserves remain in virgin, previously unexplored, yet high potential territory. |
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With the Resource just days away it presents the next major catalyst for this stock:[/COLOR][/FONT][/SIZE][/LEFT] |
