Hope PA doesn't mind me re-posting his calc's here to remind everyone;
"They earned 315k in the last quarter. Annualised, that's about $1.26m. Current market cap is $9.7m undiluted. So they are earning more than 10% of their mc in oil and gas revenues a year, with more acreage to be drilled! That's a dam good return for a micro cap."
Thats just with one well online!
There is a possible 2 more wells to come online in the near future.
Possible $3m+ a year on oil sales if these other two come online. Oil price also going up.
Has a share in the WHN drill and also the ADE one in the Cooper Basin.(50%)
Not sure the flooding you mention will happen this time around imo. Things drying up in SA fairly quickly from all reports.
The stock ran from 3c to 3.9c on the current drill at bombing range.
Thats a nice little earner on anyone's scale.
I think it will be re-rated higher in time and thus I am holding and buying.
Got more at .029 this morning...finally!
This is below recent raising price and just under that 3c support so happy to get a few here.
Cheers
DYOR
AKK Price at posting:
2.9¢ Sentiment: Buy Disclosure: Held
