KTE 0.00% 1.9¢ k2 energy limited.

lost cause

  1. 3,121 Posts.
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    I'm afraid to admit after holding these shares from the early Tomahawk days that i have done my money.
    The latest position of KTE is that the Jones well is "still" pumping frac fluid at 50 barrels per day with 7479 bbls still remaining to be recovered,(does that indicate that we still have to wait another 150 days to complete this process when management expected it to be completed in November,2008, you must be kidding!!!) so still no stable rate of gas production and "still" no assurance that it will be profitable!!!
    All non profitable??? wells have been shut down, (why would you run them up to now if they aren't profitable?)and absolutely no drilling planned at present unless the market improves.
    With the share price at rock bottom the only solution for the shareholders in my opinion is to sell off all their lease hold land (according to previous releases they were extremely valuable and hard to come by) add the current cash reserves to this, wind up the company and distribute the funds to their shareholders.
    That would be the only avenue open to us long suffering shareholders to gain some of our investment back as this company is slowly bleeding to death!!!!
 
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Currently unlisted public company.

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