nice 3million dump, page-47

Although its disappointing to see the share price falling everyday but its a good opportunity to buy more.

It reminds me of my GGP which has back to back discoveries. I start buying GGP when it was at 3 cents two years before, went down to 0.007. I kept buying - yes you can call me mad but I believe on the story and bought heaps at 0.008. Look at it today, never looks better and the same with my portfolio. GGP also did not have enough cash but look at it now - fully under written SPP is on the way as mentioned in the announcements.

I am doing the same here with AKK, keep buying because I believe on the story. It has good management too and a discovery in Eagle Ford where the flow rates are not like shales producing few BOEPD. These well do produce heaps just check TXN producing 1000 BOEPD. I still can remeber when a broker gave recommendation at FN Arena to buy it at 10 cents with a target price of 40 cents.

The whole point is AKK is a brilliant buy at these levels because:

1. Already producing fields (although small amount of oil but they are in cash flow)
2. Share registry has been held tightly. Its hard to find an O & G company with great assets such as AKK and only around 500 Million shares).
3. Asset value of AKK is not hard to predict. The take over of our partner values one of our assets more than the current value of the whole company.
4. Companies are buying shale all over the world from BHP to Speccie O & G such as ASX listed SUR (They are paying 10 million to buy leases in Eagle Ford and AKK's value is around 15 million at today's close)
5. A discovery at Eagle ford which is better than expected. Don't forget expected flow rate is 800 BOEPD and there is heaps of gas as well.
6. If not great I still think management is better than good.
7. Patience always get rewarded in Share Market when you buy a gem like AKK.
Just sharing my opinions and analysis while accomolating quitely.

GL to all and please DYOR