Yes gassin. This was the ann that precipitaed that volume.
"The Board of Austin Exploration (“Austin” or “the Company” (ASX:AKK) today announced its first well with Halcón Resources Corporation in the Eagle Ford is flowing oil and gas, and has recorded an initial production rate of 1066 BOEPD with an 87% oil cut. The Stifflemire #1H well is still being flowed back following a 30 stage frac, and is flowing consistently at rates over 1000 BOEPD. The well was successfully drilled to a total measured depth of approximately 17,000 ft with an 8000 ft horizontal leg into the Eagle Ford Shale. The well was also vertically drilled and cored."
S.P. went to .015, but, fairly quickly returned to .012.
The next ann probably will be saying that at least 2 more wells will be replicating those results.
Again, all depends on how many more "disinterested" holders are still holding and how much they want. 50% "bird in the hand" seems a pretty good "result" for S.I.s.
Volume, volume, volume.
AKK Price at posting:
1.4¢ Sentiment: Hold Disclosure: Held
