Cmon- I noted there was no mention of assumptions used such as oil price ( most likely they plugged in a WTI forecast )
They also estimate production of 38 wells yet to be drilled and similar results in the area. But here is the thing , AKKs wel results are not similar , they are worse , especially when you consider they have 2 out of three wells still producing cash only . So what, I hear the cheersquad say. In AKKS case waiting for revenue means shareholders must pay for corporate costs through more and more share issuance. We are talking about the shares on issue blowing out by 30% per year just to keep the lights on the the team well fed. In the last 9 months they have blown the equivalent about 5 million dollars for a net total of 8k in revenue and they continue with a low cash balance , negligible revenue and a cost base that is running at about 2-3 m per annum
AKK Price at posting:
0.6¢ Sentiment: None Disclosure: Not Held
