AKK (ASX) Ann: Austin enters into Strategic Drilling Rental Agreement

Originally posted by civil ↑

Hey guys,

I've just read and then reread the announcement several times and IMO this could be a real gamechanger as obviously this has been done at a " REAL SUPERCHEAP RENTAL " for a short period of time, which obviously the Board don't want to disclose...as in the future if rented to others it would be at higher commercial rates and they wouldn't want this special deal to be the base rate in future negotiations........it appears to be a short term WIN-WIN situation as on one hand all of the equipment that has been supplied would have sat unused for some indeterminate period of time........on the other hand because the equipment lenders have a benefit in seeing AKK strike oil ( the good Dr. Is a director in both companies ) ; especially where he and other Board members are going to man the drill rig themselves, as they did in the last Mississippi well......so hopefully we will see a burst of activity whilst they have the use of ALL of this equipment, and maybe see 2 or 3 LOW COST wells done to start to prove up the Colorado acreage. I love to dream!!!!!

It's been a long time coming !!!!!!! Disclosure: I've been a long term and long suffering SH!!!!! So I have a vested interest in seeing this drill program succeeding. I also get annoyed at the lack of detail in many ( most ) of the Companies announcements, so hopefully this may change once they drill their first well with this equipment.

So again, just check out what AKK are getting in this " SPECIAL " deal.....having had a little experience with drill rigs ( water not oil ), I would have loved to have been able to get my hands on all of this machinery.....I drool at the thought of it!!!!! In fact I would love to be able to fly over there and assist the drilling, would do it for FREE!!!! I assume that there would be an odd SH or two who would also assist ( Sector Lead that includes you!!! ) ; we really could get the costs of drilling down. Lovely thought.

Cheers CIVIL

Expand

LOL, Bloody hell, I am not a saint
$200 per hour is my rate
cheap as chips

and AKK already owe me $100k + when I supported the company, just for posts on HC...and I want reimbursement for AGM attendance.