Ann: Austin strikes Oil in Colorado-AKK.AX, page-372

You keep disregarding the fall in the oil price. AKK's Texas leases were in the sweet spot and they had a partnership with Halcon with x amount of wells to be drilled each year. With that money, plus Kentucky and Mississipi making a small contribution, they would attain enough finance to open up Colorado 100% AKK.
Halcon which had manageable debt at the high oil price was suddenly out of the running with the oil price drop and on the verge of bankruptcy, therefore all future income for AKK was gone.

Nevertheless AKK is now in Colorado with all infrastructure set up, debt free and the possibility of being a successful oil producer. I think that any oil company that is in that position after the turmoil of the last 2 years has done pretty well and with one well presumably plugged and another showing oil, I think it is worth a punt at 1 cent a share.