You seem to be completely correct...and also the 600boepd is indeed related to EFS.
Maybe the Kentucky well might start drilling, but mostly completions and we really only have 2 months left of year with Xmas.
Niobrara #1 looks like as you say and I mentioned previously will wait for new money (oppies). But they will drill the 3rd vertical to hold the full lease committments.
so in a way - they don't have the extra $3-4m to complete #2...and you were right on the $ stretch here
They have opted for 6 gas wells in Texas it seems and 1 new cheap ($450k) horizontal in Kentucky.
I reckon they are going for max wells, excitement and news flow in 2013 to get those oppies converted, I can understand that logic, as that's what I would do as well.
btw- You said you're "still holding"? Do you mean you re-entered?
AKK Price at posting:
2.8¢ Sentiment: LT Buy Disclosure: Held
