AKK has potential and I am encouraged by the 600 barrels of oil to date with only 8% flowback from Pathfinder.
I am also of the opinion when a small cap like AKK after approx 7 weeks of flow back have not released any numbers for whatever reason is concerning. The Pathfinder project is the largest single holdings in the AKK portfolio with conditions on its leases. IMO the longer it takes to release numbers the less likelihood of a positive result and the greater the risk considering the 3 wells obligation by June 30th. RC is looking to farm out part of the Niobrara and would have to have some decent results to encourage another company to participate.
I decided to sell a large portion of my holdings last week due to the length of time it is taking to inform the market considering AKK in the past has been quick to release bullish results.
It will be interesting what funds AKK will have available in the December quarterly and when they may need to raise further capital depending on drilling results.
Good luck to all holders Matsim
AKK Price at posting:
2.1¢ Sentiment: Hold Disclosure: Held
