Wanttoretireat30. Looking at the "pattern" that RC seems to have engendered so far, with farm downs, exchanging equity for free carriage, it seems that AKK will not be using very much of their own cash after they do the initial shallow (inexpensive)Pierre wells. If they are successful, it will have the double benefit of cash flow and making it attractive for a j/v partner to continue future drilling, which management state quite clearly is their objective. If they consistently apply that policy, who is to say that they will not be planning to do exactly what they are doing with Halcon for the remaining wells in Birch? I still reckon that there will be room to move with Halcon if the next two wells replicate the first. RC obviously doesn't like spending company money if he can avoid it. This last placement clearly indicates how dilution affects markets.
R.C. appears to be copying the "philosophy" of very many successful "investors" by using other people's money to advance their own (and our) wealth. I wouldn't be "assuming" anything with this company and certainly not taking any notice of TA, with so many variables that "charts" could not possibly provide any guide for future outcomes. The huge placement of 260 million just 6 weeks before this announcement throws all current chart interpretation out the window.
AKK Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
