"I think you could absolutely say you knew the oil was at Birch and look what had to be given away EVEN AFTER THE large Capex invested by AKK....
Yes, thats an absolutely valid point Cmon. I would say that the key difference in JV negotiation this time around should stem from getting it right ourselves, and proving up a better case for better terms than at Birch, which was an operational disaster by any measure. HK literally really had to haul our arses out of the mud at Birch.
At $8-10million per well, the EFS was only ever going to be an option for AKK at a minority interest. Pathfinder was drilled successfully by AKK this time, sufficient to suggest they've got the well dynamics right. The Pierre wells are going to be a lot cheaper, shallower, and if successful, may lead to enough up front field delineation to shop it around, and not go begging..
AKK Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
