Sorry mscara, ive been on a little holiday from hotcopper. And you wouldn't believe it, theres been news everywhere on my favorite part of Akk, and that's birch. I was not surprised by a really strong valuation of birch, when you have a tier one asset like birch is, high valuations are the norm. The problem the company has is Colorado, wonder what the NPV10 is for that, for me not much at all. Interesting to read today that IOG who operate the Florence field only 400m away from pathfinder, arent at all considering drilling Florence, because nothing at pathfinder tells them to drill. They are waiting for results like Akk shareholders have been for years. It will happen one day, akk will drill and production test a well in pathfinder and get a 30 day IP. Not holding my breath and waiting though.
Geez birch is a super asset. 400m+ valuation wow, 60m barrels of oil. Wow, over only 5000 acres. OMG. Halcon as the operator, best in the play for 30 Day IP, say no more
Well results for only two wells, the two farm in wells. Halcon are going to make akk sweat. They want them to get full field funding, before they test the participation well. The funding is taking longer than I thought, wonder why, cap raise maybe on the cards for admin and Colorado, and debt funding may only be for birch? Maybe something like this, who knows, weird. Mad got approval for 500m debt facility for acquisitions and it only has 1,000 bod production and its not cashflow positive, 4m barrel field. Surely akk can get finance.
Bring on the birch well results
AKK Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
