1st Horizontal in Nioabarra drilled and now awaiting flowback, sounds like guys at the AGM expect good flowrates when frac fluids removed.
This will prove up this land and with a comercial oil discovery would be worth 10 times what they paid for it.
Take a look at the drilling program for next year Cooper,mississipi, kentucy horizontal for only $450K
Q4/12 Frac 4000ft Niobrara #2 Horizontal in Colorado
Q4/12 Birch # 1 Krueger vertical well : Perf & Frac Taylor sand and produce. Infrastructure nearing completion
Q4/12 Complete and produce both Oil and Gas @ Birch # 3 Schwartz / Galbreath Austin Chalk
Q4/12-Q1/13 Drill 1000ft Horizontal well in Kentucky – A first for the Company
Q1/13 Drill PEL 105 in Cooper Basin, South Australia
Q1/13-Q2/13 Drill 6 Taylor gas wells in Texas ( low risk, highly profitable at $4mcf, secures acreage) Q1/13-Q2/13 Complete Birch 2
Q2/13 Drill Mississippi #4 well
Q2/13 Drill Horizontal Eagle Ford
Q2/13 Drill 3rd Niobrara vertical well
Q2/Q3/13 Complete and Frac second Niobrara Horizontal in Colorado
And to top it off Cottee will work some farmout magic like CTP, looking good from where i sit. As long as they fix their communication, im looking forward to some news.
AKK Price at posting:
2.2¢ Sentiment: None Disclosure: Not Held