GRK's market cap doubled on news of the announcment. On Turnover of $4,500. So the company was not available for $2 Million.
GRK has state funding of $5.4 Million if it can come up with the rest.
GRK expects to get funding from the Fed as well. If they do then the deal will probably go ahead. If not AWE may walk. Awe will fund the remaining balance of the two wells and pick the locations which include its own oil, gas, shale targets.
AWE will drill much deeper than it usually would and have the government funding to assist. Seems a no brainer. Drill 2 wells for the normal cost, add govt money to go deeper, get a free look at the geology and who knows maybe get a better understanding of the source kitchen.
Might even find some hot rocks. Not sure what AWE would do with those however. Better thsy find some hydrocarbons.
Anyway just a former AWE holder showing an interest. Good luck all and DYOR
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