Ann: Reserve & Resource Review Commences, page-7

@gassed - lets not get carried away ... Gustavson is known to AKK shareholders - they did the current Reserves/Resources report and did the report at the time of purchase.

Aug 27, 2012 Gustavson reported
P50 RESOURCE - Oil - 21.76MmBO
P50 RESOURCE - Gas - 24.52Bcf

At the time they noted "...Historical production from the Pierre Shale in the Florence Field has occurred from this property, but is not considered a major target for further development. No horizontal Niobrara wells have been produced nearby. Resource estimates for this prospect were based on a probability distribution of expected ultimate recovery (EUR) based on analysis of the performance of horizontal Niobrara wells located elsewhere in Colorado and Wyoming, and the likely number of locations to be drilled in the prospect area..."
Letha C. Lencioni
Registered Petroleum Engineer
State of Colorado #29506

Good to see Letha is still there and promoted. Let's see what the current iteration update brings to light.

Dec 2014
P50 RESOURCE - Oil - 21.76MmBO
P50 RESOURCE - Gas - 24.52Bcf

Last report (per annual report) had the following (as there had been wells drilled)

June 30 2016
P50 RESOURCE - Oil - 27.007MmBO
P50 RESOURCE - Gas - 25.649 Bcf


Real test always comes down to Reserves not Resources. Wouldn't expect this report to be released until after they the necessary oil flow information from Columbus and Marco Polo.


@sharks37 - I'd call Gustavson Independent - no different to NSA or Ryder in that regard, just not as prominent.

Good luck (and @Greeny fo)