For the record and to dismiss yet another misguided assumption I have invested in AKK three times over 5 years , the first and the third with decent profits and the second at break even , so my views are not those of a bitter or disgruntled ex shareholder , but rather the views of someone who has invested in the O and G space over 20 years .i am however very much against companies that poorly report to keep dollars flowing in to fund their salaries and in this case their drilling companies as well . I would be happy to give AKK a fresh start but they don't deserve one as the last announcement is in the exact same vain of the bullshit announcements of the past , big headlines, colourful or surplfeous descriptions not normally found in releases of real oil companies.
One needs to understand a viable and real oil business plays down results until they are proven, a micro cap that needs money does the exact reverse to get investor interest and funding
I open the invitation to those who question the commentary of Cmon , SL and others to offer any facts as to why the news suggests this is a discovery of substance
Is it based on near based wells- no
Is it based on potentantially high margins - no
Is it based on AKKs previous success - no
Is it based on the fact AKKs previous claims of production targets , positive cashflow etc have proven correct - no
Is it based on the fact they have released anything remotely factual from this well that you can estimate the value - net pay , flow rates etc - no
Nobody is debating there is oil- most shale wells drilled have oil - but it's the economics of the well that determine value. Even in the good times many shale wells that flowed oil were uneconomic.
So I throw out the question to the likes of a bevter, troyboy etc to make a case why this news proves anything . If you can't reply on today's value and are simply speculating on what may be , why do you have any issue with those who speculate and what may not be. In the end you guys are your own worst enemies , but the reality is the market is littered with People willing to give their hard earned to the likes of AKK, that's why there are is many AKKs around on the ASX and they last that long
So guys I am all ears - give us all your analysis . Don't attack me , don't avoid the question , dont wonder why non holders post , dont pray I go away, just answer the question - I am after some FA reasons based on what you know why this well is so good on the news at hand
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