re: Ann: Kansas well intersects 350 feet of M...
Prophet, I started looking at possible future production levels back in January after seeing the 30 day average boed shown for each well.(See ASX release dated 23 January 2013 headed "Production growth to continue..." The same numbers were put out with last weeks presentation but updated for the new wells that have come on stream since January.I agree that there must be a decline factor and my simple arithmetic is indeed very simple, but this company seems to be very much undervalued even on current production/net revenues. At current drilling activity levels they could have 40 wells producing/near production at Snake River by the end of the year and perhaps 60+ wells by the end of 2014. I can see 1000 boed later this year and a bigger number boed next year. This will lead to a significant annualised revenue stream. Something just does not add up and I cannot put my finger on it? I thought it might be day traders or perhaps a big holder is selling down?
AOK Price at posting:
13.0¢ Sentiment: LT Buy Disclosure: Held
