This is no excuse but if you review the company website you will see that the company has taken a drastic change of direction. The initial goal was to be a natural gas focused company. The acreage purchased towards that goal would have primarily natural gas reserves but very little oil.
Since 2010, the company has been focused on oil and trying to assemble a new land package with oil reserves. Since they have done no drilling on the new land, they are not going to be able to publish a meaningful reserve report.
Company is changing gears and direction. Hopefully they will be successful but we do need more information about their progress.
AOK Price at posting:
8.6¢ Sentiment: Buy Disclosure: Held
