If this well proves to be of commercial interest and things flow well enough for investors, they have already secured an agreement to complete a well for less than 500k.
They have no debt, some cash which of course they will be tipping into, but more importantly, Austin have dug themselves out of a "near useless" hole in some respect to finally put them into the go position for a fresh start. When they intersected this column it wasn't a fluke.... there is more to the story about how they ended up where they did..... this is a good thing!!!
The green colouration is also chuff based on what's next door and the flow throughout those fields. There is no point speculating over the type and flow rates.... as we can see, many lost their marbles!!
So if we look at current overheads and bear this in mind with various drilling agreements, if the flow is there, the commercial interest will spring to life and AKK will be in a position to guide the ship back north.
AKK Price at posting:
0.8¢ Sentiment: Hold Disclosure: Held