Interesting to note that not only does Hancock Prospecting hold part of Lakes Oil, they also hold some shares in a company called Sun Resources, which is pursuing shale oil in America.
However that is straight equity, which isn't exactly what we want.
Until the next drilling campaign the share price will be heavily influenced by how management can fund the next years activity. A JV with an implied value per acre of north of 20 dollars would be ideal, while a straight equity issue would be the 'worst' imo.
AJQ Price at posting:
27.0¢ Sentiment: LT Buy Disclosure: Held
