Most of us have been focusing on the 1000 boepd milestone as a catalyst. After looking as the RBL facilities other companies are getting, I have a feeling that the facility AOK will get could be .... rather larger than expected. Relative to AOK's MC, it could be very significant and be a real driver of growth.
A secondary effect could also be the market's reaction to an independent 3rd party (bank) being prepared to take AOK's assets as backing for real $$$$.
Noting that:
- RFE can borrow $45M against 1P rserves with a NPV 10 of $144M
- Osage can borrow $20M against 1P reserves with a NPV 10 of $30M
....what can we borrow? How will the market react if we get a loan that (almost) eclipes our MC?
AOK's NPV 10 = almost $200M effective 1 March 2013 and report released on 19th March 2013. Would not be surprised if they do another Reserve report effective 1 Spet 2013 (ie 6 months later). Report should then be released any time now, and used to stitch up their loan.
Please note: all the above is just a hunch based on their timing. I've had no communication from the company or similar. Please DYOR.
Most of us have been focusing on the 1000 boepd milestone as a...
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