re: Ann: Sugarkane Field Reserves Update for ... Hey Estseon,
Chris Hodge (former managing director of ADI) certainly did have an input on EKA's recent acquisitions.
From the AKK "New Director (Chris Hodge) Appointment" announcement on September 9, 2011.
Quote: "He (Chris Hodge) was also recently involved in recommending Eagleford Shale acquisitions to Eureka Energy".
http://www.asx.com.au/asxpdf/20110906/pdf/420xjzddgkjdyx.pdf
On another note however, I personally don't think AUT would be looking at acreage that far North (Burleson/Washington). Jon Stewart has gone on record mentioning that he believes there is alot of upside in the current acreage and that they (AUT) risk destroying shareholder value through acquisitions other than Sweet-Spot Eagle-Ford Shale land. AUT also thoroughly enjoys mentioning the company as an "EFS pure-play".
Only time will tell however. I'm more than happy that AUT sticks with what it has, although considering I hold as much AUT as I do EKA obviously some EKA transactions would be of much interest to me! (at the right conditions of course).
What is fairly obvious though is that the size of the AUT debt facility is abnormally large (even considering the fact that AUT wanted to borrow more than $100-$125 million to be on the safe side).
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