Junior they may obtain a few $m funding but after covering their...

Junior they may obtain a few $m funding but after covering their overheads that would be spent drilling wells. The problem is so far the wells are not producing a lot of oil so they will struggle to pay the loan let alone build working capital for more wells, and the lender will end up with the leases, and the shareholders nothing. I've seen it before - look up RFE, apparently now BRK although you can still see their chart under RFE, which looks just like AKK's chart - to see what happens when you poor investor money into an uneconomic field. And those guys actually managed to produce oil for a while, just not ahead of the cost curve. AKK will follow the same path...

Cheers, Sharks