Ann: June 2021 - Investor Presentation, page-10

Some History

I also note that this company IPO'd in 2013 at 30c but then tanked.

It was trading for just 3c in 2016.

From the information ive gathered, it appears they ran into partnership JV and drilling problems, with many shareholders holding on for hope that KKO has a future that was rumoured all those years ago.

It appears that they de-listed ??? and then re-listed ?? onto the ASX in 2020 (at 4c), and the SP has grown 175% since.
It appears that they have solved the issues they previously had (partner - they bought them out) - and have progressed with the project hence the SP increase.

Now i understand why the SP is where it is, and why there is lack of hype / discussion. The majority on HC appear to have been here since many years ago, and are sitting at losses, hoping the company delivers on their promises. Probably many that sold for huge losses aswell.

So yeah, not a great look - but i would say there is still a good chance for success given the recent progress. My concern is that the majority directors own and operate other companies and are not 100% focused on this. I reckon they just want to prove the resources and then maybe try to sell the company for big profits (these directors appear to be smart businessman). To their defence a lot of explorers operate with the same intentions (EXR as an example).

Tom Fontaine (NON EXECUTIVE DIRECTOR)
In the mid 2000s, he co-founded Pure Energy Limited whose primary endeavour was to secure prospective coal bed methane acreage in Queensland and develop a resource. Pure Energy successfully drilled over 40 wells to prove over 1 trillion cubic feet of gas, which enabled the company to be sold to British Gas for over AUD$1 billion in 2009.

So there you go - these guys know what they are doing, and they know the resources they are sitting on. That's why they are invested heavily. The bad thing for shareholders was they were moving at an extremely slow pace (this should be rectified now that the board owns 100% of the project - as the partner was the one who was making things difficult) and the need for continued financing / dilution until they start (possibly) getting revenue from those small domestic gas sales they are planning (offtakes). The fact that they are heavily invested into this company, you would imagine they want it / believe it to succeed in the future.

At this stage, it does appear to be a high risk investment that may need quite a while before starting to pay off (its still early days).

For the short term - securing an offtake which according to the board is "in advanced stages" - will take the SP higher. Because that's cash flow for the company , and actually being a producer - with no further costs required to get into production. Any off take now will help finance the company and keep the lights on without the need for ongoing financing/dilution.

That's what im counting on for short term growth. If they can pull it off, the SP will re-rate higher in the short term.

To be on the safer side, you would want to invest when they reach the stage of "exploration and resources growth" - that's their planned 24 months drilling program which will supposedly be funded by a SA insto (which is what ASX:EXR is doing right now). Once they're at that stage, its very low risk. Right now its very high risk, because we may or may not ever get to that stage, depending on what happens from now until then. Luckily i have only purchased a small parcel, and if i dont like the direction things are moving in (or if the board fails to deliver on promises / expectations), i can sell out and take a small loss (if there are any available buyers lol). Right now i am optimistic and i can see that the board have gone through a fair bit of effort to gain shareholders trust again and to move the company in the right direction (also speeding up the time that things are getting done).

Lets see how this goes in the short term and lets see if the board can pull it off - because the potential is there for big gains.