Horizontal Well •IP 800 bopd, EUR 200,000 barrels •Well cost USD$6,900,000 •NPV USD$5,000,000 •Based on 5,000 acres and 160 acre horizontal well spacing there is potential for 32 well locations.
This represents possible value for AKK of USD$160,000,000.
Still a pretty handsome return for a company with a MC less than $20mil
Also worth noting were drilling close to a vertical well that IP'ed at 456 BOPD, so could get pretty busy here if we IP our first vertical well at something like that.
AKK Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held