Yep these guys can spin it. My shares have hit a second consolidation. Now my average buy price is $1.03/share.
They want to 'Drill 47 wells in the next 5 years starting in June'. Even at 'their' cost base of ~$500 per well they will never be able to self fund the drilling of the wells even assuming they get 100% success rate.
They'll be showing pictures and videos of oil spudding/gushing out of their drilling and shortly after a cap raise will be announced....repeat again, no one will by and they'll get bank financing enough for a few quarters.....then consolidate again.
AKK Price at posting:
0.3¢ Sentiment: Sell Disclosure: Held
