"Does anyone know when will be the CR? This worries me as there was a CR recently on 0.011"
I think people are getting a bit CR jumpy. There are never any guarantees that small co's wont resort to dilution to fund growth. AKK seem to have at least funded the primary growth catalysts at both Niobrara and Birch via FO's and the recent CR.
They'll need to keep drilling the 'sweet spot' to gain enough cash flow to self fund that program, otherwise you'd need a CR for every well, and at current SP thats not feasible.
AKK cost per EFS well is circa 2-5 to 3.5 million, the plain truth here is that its just not fundable with CRs until the SP is high enough to outpace or at least absorb the dillution cost.
The key to maximising cashflow right now is to monetise the bigger projects and that means back to back EFS drilling at Birch (great to see HK drilling 2nd well immediately), and immediate moves to handle Pathfinder oil now that the gas is out of the way.
Its do-able IMO if we can turn the taps on with these projects NOW. Exiting times for LT's
AKK Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
