Well they got twice as much support this time from their shareholders than they did in 2015 and that might take them over the line to pay for that property from IOG and give them some cash to continue for a while until they get it all sorted out.
Contrary to what you have read elsewhere in this forum, from those with undefined agendas, it appears that they are intending to use the income from those 21 wells, 50 BOD at "minimal" running cost, to be the basis of their cash flow/income to support their application for loan funds to at least pursue the next 6 wells that are ready to go in the IOG lease and supported by the Gustavson report.
They might even be able to raise more cash from the under subscription.
I've stated quite clearly before that this time management might just make this work, but, shareholders will need to be patient and use their own judgement to see if management can finally deliver on this prospect.
I've seen MUCH worse "plans" but will stick to my "punt", as I have always declared, that this company simply does not fit my criteria and as such, I'll be sticking to those options with another 28 months to go, which should give management enough time to get over the barrier needed for my oppies to be in the money and a nice percentage profit compared to paying for the heads.
Won't be costing me much to possibly sit back and watch a minnow company become a genuine producer, but, it will be a very long time before any of that profit that they hope to make gets into the hands of shareholders i.e. that's why I have never intended to be a "shareholder" @ six times the ingoing price,
Catalysts for the near term prospects of elevating the heads' price will be further results from the other two wells and an early commencement of drilling on those 6 new wells.
Goodbye all, I'll leave you to those irrelevant snipers. I hate debating with those who hide behind the coward's cloke of anonymity, say anything they like and get away with it and with the only intention of discrediting genuine posters. DYOR!!!!!!!
AKK Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
