Looks like the penny is starting to drop, with the offer from...

Looks like the penny is starting to drop, with the offer from AWE on ADI at 40c Hartleys had this to say about AUT and EKA:

''This bid has implications for AUT and EKA, which also have positions in the play. The look through valuation for these companies is ~100cps and ~22cps respectively.''

Now with Morgan a monster producer, a new Kowalik well to drilled right beside it, Rancho about to release stabilised flow, Turnbull 1 almost fracced, 2 & 3 about to be fracced...lots of news coming.

The new Kowalik will cost AUT straight up but it will also start paying back revenue from day 1.

More wells to be drilled this year that will be upfront payments with revenues straight off the bat. The only downside will most likely be a required CR but the market is likely starting to factor that in and it will only provide more certainty for the company as they develop some of the best leases in the Eagleford.

Lots of upside here I believe.