AKK austin exploration limited

Ann: Successful Placement of SPP Shortfall, page-7

  1. 2,647 Posts.
    Means akk has a few more $$ in the bank to keep up with the feverish drilling by halcon. Akk has to stump up on the next wells in Texas. Red Bud #1H is currently getting drilled, and the 30% of $9m drill will be 2.7m. The fifth well of the texas program wont be long down the track. So akk needs the money there to advance the drilling. I have no problem in the company going to the underwriter and getting the extra cash, akk needs it for Texas and Colorado

    In the presentation it did say "Commitment to additional wells required before revenue flows".
    Does it mean that akk will get the revenue now from the Stifflemire 1H well, up unto the 15 May it had produced 25890, at 22.5% to akk, that's 5825 bo, because the forth well is getting drilled at the moment? Is that right, because that revenue alone would be $500,000 for akk. Shows how quickly the wells will pay for themselves, max 6 to 8 months. Problem is you need some capital upfront
 
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