Quite the lecture
@gassed ... predictabe tirade but lets talk about the stock rather than mgmt platitudes and the ad nauseam unfounded optimism contain in you posts.
Just go back to the PLAN - as stated by THIS MGMT on the 11th Aug, 2016 in a presentation titled "Pathfinder - An Iconic Oil Opportunity"
Slide 9 - "Pathfinder - A Golden Ticket" (cue Wiily Wonka)
Notes Pathfinder "...Our acreage to the West looks much better than that to the East due to the fact that the
Pierre formation increases in thickness as it slopes West ..."
On slide 30, AKK refers to the 21 wells next door with this statement "Our acreage is better!"
With 387 drilling locations left why send US$2M (of capital it needs to raise) to ACQUIRE LESSER QUALITY ACREAGE now???
I've asked that question a few times and not one of the RAT PACK (the anti-amigos organizing group) has come up with an answer that makes sense (or even no sense or nonsense).
Now if you believe slide 24 which at $50 WTI claims "Potential Single Well Economics" (and I still dislike this method) of the following when IP rate is 85 bopd:
IRR = 145.9%
Payback = 0.479 yrs (175 days)
Net Cash Flow (10 yrs) = US$1.894M
EUR = 55,677 BO
Why spend US$2M to buy 120MBO of 1P PDP producing at 50 bopd, when you could drill 4 wells costing US$500K each, be paid back in 175 days to do it all over again, and again, and again .... unless of course you can't.
Explain why this is an improved strategy given what was said in August.
Being an Amigo an all my comprehension must be poor cause I haven't figured it out. Have you?
