re: Ann: Quarterly Activities and Cashflow Re...
Scottport,KOG farmed out %50 of the 3 offshore prospects for the completion costs of those wells and drilling cost recoveries,plus a $1.8 million dollar loan to help pay for their share of completion costs on the other wells,so all in all a pretty good outcome for shareholders(See announcement).One thing I like about KOG is that, so far,management seem to be reluctant to dilute shareholder value with equity dilution.The plan to sell the offshore wells at the end of the year back to the operator will inject more capital.Noticed there was an income of $17,000 in the quarterly which I presumed is from initial gas sales before maintenance issues closed them down temporarily.Not setting any records here but KOG is heading in the right direction at the right time.I can see some serious growth coming out of Stary if things are as good as they project them to be.
KOG Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held
