The quantity of wells, not the quantity of oil per well and cash flow ARE the absolute intention of buying into this entire region and by definition, the absolute purpose of this acquisition.
I can see management working hard to increase their land holding (which they have now done), proving up as much sustained income-cash flow- which this acquisition helps significantly, and then making a much larger play to get as many wells simultaneously pumping oil as soon as possible.
Management keeps talking about potential for 430 wells, well, no one can tell me that they are going to rely on 3-6 wells per annum with management doing the field work to save costs, paid for by $1.5 million CRs from SIs!!!
What are the alternatives???!!! THAT'S what people should be watching from now on!!
What they do or don't do in the next 12 months will prove to everyone how good, or bad, this management is.
AKK Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
