No I dont think it will bring it up to the mid 40's in the near term I am hoping for mid 30's. There are alot of people who bought in at 40+ so will be looking to get out as high as possible.
The management team is partly to blame here, but you have to remember they are merely managing the project, there are many other factors that have been involved:
- Plant down time - Lack of materials organised by plant and sub contractors - Operators experience in stimulation
To name a few. Management have made mistake but are fixing things in my opinion, stopping drilling until they fix what they have, replacing the stimulation team with an experienced team (what shouldve happened from the start but who knows what agreements they had prior) getting revenue on board etc.
I think this stock will turn around once revenue increases and the company is self reliant. At the moment one frac job result one oil flow result is only going to move the SP up slightly.
I used these low SP prices as a way to increase my holding and lower my average dramatially to high 20's so even if this thing hits mid 30's ill be happy.
AKK Price at posting:
0.0¢ Sentiment: Hold Disclosure: Not Held
