akk takeover target halcon must be looking

lets have a look at the facts. akk has a market cap of 26 million based on 1.3 close. akk has about 4 million cash in the bank. ev is about 22 million. akk has four oil/gas producing/exploration areas in colorado, mississippi, kentucky and texas and they would be worth imo 10-15 million if they were to sell them. they may get higher than that but not less. the valuable exploration lease at pathfinder colorado with p50 reserves at 75bcf would be worth at least another 10 million imo at a minimum and if the upcoming drill is successful and another 10 million or so. when you add in the massive hit just announced at eagle ford in its first well then you can see how undervalued akk is at 1.3 cents. 3 more wells are to be drilled into the eagle ford shale at texas for a total cost of 24-30 million and akk is free carried. there are 100 potential drilling sites at eagle ford. the 5000 acres akk own are not even imo accounted for in akk's share price. this lease must be worth at least 30 million after the last drilling result. akk is undervalued on all metrics at the moment so i wouldnt be surprised to see halcon or similar take it over to get those 5000 acres for next to nothing. the only reason akk is 1.3-1.4 is because the investors who took the placement at 1.1 are selling at 1.4 and are not interested in the slightest to hang around to obtain better prices. they will be gone today and the sp can then run to fair value which i see at 3 cents plus.

frosty