Don't forget when working out how much cash they will have to drill new wells you need to allow for overheads.
Last year they spent approx $8M on Admin, Finance, consultancy and Misc. You could argue some of this is one off costs but I always assume one off costs generally occur again and again. I was going to buy back into the stock until I saw the Dec Actuals but will hold off for now as I think the overheads are currently too high.
AOK Price at posting:
15.5¢ Sentiment: None Disclosure: Not Held
