8 cents a share, page-7

thanks for the responses guys.

jaffadog, forgot about the convertible notes, imho these are a monty to be converted.

suppose the concern here is at what price??? if issued at 8c, another 125 million shares, but with current price more than likely lower so 150+ million extra shares.

but $10 million is the minimum AOK will require if it is to be aggressive either drilling or acquiring extra leases.

equator, very interesting info regarding acreage held.

firstly, $400k, can only be a vertical well at best, unless they are a minority partner in a non operated well.
This could help with future decisions on 640 acre blocks they actually hold control of??

re the positioning of acreage and particular the amount of past vertical wells, even more interesting.

in the past have seen data that suggests the average Mississippian vertical well on average play porosity will require 12-14 acres.
personally have no idea how many vertical wells in AOKs acreage, vertical wells have been used as control data in other parts of the play, but if there are too many vertical wells?? not sure where that leaves AOK.
OCC approves the spacing and pooling, the spacing comes first and this is approved on the back of technical testimony in front of the commission, not quite sure why they would reject the spacing, too many vertical wells in the area could certainly be one reason.

anyway to the holders of AOK, interesting times ahead, there is no way management will achieve what they have suggested without the backing of far greater funds, convertible notes or listing on TSX will be required, and soon, imho.