AKK 0.00% 0.3¢ austin exploration limited

Ann: Austin enters into Strategic Drilling Rental Agreement, page-17

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  1. 339 Posts.
    I read it as the Doctor pulling cash out of one of his pockets to put in the other!

    If they don't hit oil, will he mind? His other company's getting paid for the use of the drill rig. It may be cheap, but it's better than nothing (for his other company) given the current oil climate.

    Austin write it off as an expense, and the other company chalks it up as revenue.

    Austin's expense is our expense.

    I just hope they hit some good reservoirs, then I won't be so cynical!
 
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