People seem to be making something simple seem complicated, AKK is effectively a new Company starting again with much the same ground , no debt but under capitalised , a much lower cost base , full control of and a much better understanding of its leases but is currently opperating in a low oil price environment...
The history of this Company is not great but it has survived where many have failed , its high risk punt like any small under capitalised oiler is however it does have oil, it doesn't require fraccing and the wells are cheap , quick and relatively low risk.
So going forward the success of the wells and the price of oil will dictate its future and we are about to find out how that pans out and there are certainly no guarantees...
Being bitter about the past is a very destructive pathway which many here seem to take unfortunately..
Cheers Whisky
AKK Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held