In relation to your second paragraph - it's called a projection...

In relation to your second paragraph - it's called a projection - businesses uses projections and assumptions. This may be a little foreign to you but it is not abnormal to do this in business. Nothing to do with faith.

Your third paragraph - It appears some of you guys entered AKK for all of the wrong reasons - This was a speculative stock in an industry that has been at war with itself. This is not Rio Tinto or BHP. Saudi Arabia as you know flooded the market with oil to drown its shale producing competitors in the USA. Some of you talk like AKK's current position is all there fault - you want to blame them because you want to blame somebody and it is a little hard to blame international competition perhaps - just my observations. Lets put this into context - Many shale companies in the USA have bankrupted - fulfilling Saudi Arabia's goal of gaining market share by dumping cheap oil on to the market. But as I have written Saudi Arabia is now becoming a victim of it's own actions with the potential bankruptcy of itself. If AKK survives it all they will boom. Before you rag on AKK put your thinking into context of the whole industry.

Your third paragraph - I was wondering why Sector and Auto kept sticking around and it appears they have lost big on AKK and are still trying to potentially recover some of their losses. They should just move on like some others. If a trade didn't work for you and you stayed in it too long then you should take responsibility for your own mistakes and stop blaming everyone else. Some of you sound like the quintessential Australian whingers.

Your forth paragraph - well its good you are being a little more positive. However, sometimes you have to just move on completely - sell and pursue other stocks. Looking backwards and hating on a company does not help you. As some one else stated - AKK is essentially a brand new company starting again as a low cost producer in an industry that has had a near death experience. And yes it is about survival - and I am happy that this is what they are attempting to do.

Your forth paragraph - The reason why you have not heard a lot about developments from the second and third well is because the production of all three wells is happening sequentially (one after another). They are doing this to save on cost. So Magellan is currently the most progressed well and AKK are now working on well 2 and after well 3 (within phase 2). There is no conspiracy theory here. That means flow testing results on Magellan will not be heard until all of phase two is complete for all three wells (even though flow testing is occurring individually).

Your fifth paragraph - AKK's goal is essentially to reground themselves as a low cost producer and to be profitable so they survive. If this dilutes your owning's or 'appears' to be 'skewed' away from current holders then sorry and too bad. What do you expect from them - to throw the towel in? Not even close to realistic.

Your last paragraph - AKK is looking to demonstrate they are moving forward and are beginning drilling again. Whilst AKK has learnt as much as one can when a big producer such as Saudi Arabia floods the market with cheap oil - AKK and the shale industry has learnt it needs to keep costs super low in order to compete. As stated - this was war - AKK was an unwilling participant of Saudi Arabia's actions.

The AKK green shoots are rising again especially if:

1) Macro oil conditions settle
2) AKK achieve a good initial flow from their wells
3) AKK keep's costs down
4) They keep building wells and take advantage of WTI upward oil price movements.