That's why I chose to exit, sick of the grey areas. Emails to...

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matyd

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29/04/15

19:18

Post #: 15183564
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Originally posted by cmonaussie ↑

Hmm... AKK can be a little hard to keep track of.

Nov 4: Funding update notes an incremental revolving facility with CHASE (at 3.5% margin - but the basis not disclosed nor the amount) - but does say its for EFS

Dec 3: Secures Cornerstone investor and $4.53M investment - to enable the company to continue its high impact low capital cost drilling program throughout its North American properties....... their words not mine

Jan 30: Dec Qtrly - notes Cash of $1,542,870 and Loan Facilities available $178,829 and used of $406,357 .... must be the CHASE facility right?

Apr 28: Funding Announcment: $1.5M low interest rate loan (what is low?) securitized against its assets.

OK so what is the drilling program now? Paying only for completion costs on Pierre wells (which have total AFE under $1M right .... so $300K/well maybe?). Only 2 scheduled at present correct? Current EFS program halted by HK, correct? (Dec 3 annc also noted a 7th well that was scheduled to commence drilling in coming weeks - did that go ahead or defered by HK).

Guess it depends on whether the CI was "repaid" a fair amount of dosh in the Equity Swap agreement that AKK needed to find more cash...

Qtrly may be an interesting read.

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That's why I chose to exit, sick of the grey areas. Emails to mgt did nothing to nothing to clear them up. Cheers

AKK Price at posting: 3.2¢ Sentiment: Hold Disclosure: Not Held
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That's why I chose to exit, sick of the grey areas. Emails to...

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