GG said it will take 4-5 good wells to get 250 bopd to cover Corporate costs.
Fair enough.
What he didn't say was how long that would take.
Are present shareholders aware that no drilling is allowed in this area during the winter months, that's 3 months.
Elks are mating!
These present 3 wells started in late April this year and flow testing might be concluded by November. So no more drilling this year.
If they did another 3 wells next year the earliest they could start would be April 2017 so assuming it takes the same time, no results until November 2017
So in the meantime revenue from 1st 3 wells not expected to be sufficient to cover Corporate and future drilling costs in 2017 so plenty of money will need to be raised via CRs during this time. Then of course depletion rates start to kick in on these present 3 wells.
Doesn't sound too good does it.
I just hope present and future shareholder don't cop the same treatment as the female elks(cows).
Jim.
AKK Price at posting:
0.7¢ Sentiment: None Disclosure: Not Held
