That's exactly the way I'm looking at it JohnnyBoy1. It has to be money that you are prepared to lose, but, I've only given them 12 months.
For what it's worth, I am much more confident with this management's attitude and plan than that when they wanted to be a "$Billion company" under Cottee (and where I lost my dough). If you have a real look at it, their plan is really very basic and simple and far from the pie in the sky stuff that Cottee was spewing out. Their wells will be lucky to crack 100bod, so, it certainly isn't the stuff that "The Next Big..." mob would be selling.
In fact, we are now waiting for test results where management would be delighted to get 100bod, what a far cry from the "old" AKK. And that's what I like.
"Where they are going to get their money to drill" is, IMO, what will tell us whether or not to hang around. The new acquisition should pay for running costs, but, won't solve their development requirements. IMO, getting that cash flow will help considerably towards securing "serious" funding and that's what I'm looking for in the foreseeable future, but, if they persist with CR's for 3 wells etc etc, I'm out. I'd be MOST surprised if they continued with that process. This is more like an annuity than a bonanza.
IMO, as a trader, or an investor, I certainly see the AKKOA's, at this price and at this time, to be a far better entry than the heads, risk wise and profit wise.
Best of luck.
Autosime. What you think of me is totally irrelevant as you have absolutely no credibility whatsoever.
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