should we expect a re-rating today?

AKK seems way undervalued IMO considering their current market cap is under 18M?

From today's announcement:

"Using the reserve totals provided in the Independent Reserves Report from Mr B.L. Whelan, as attached, the Austin management has estimated the potential revenues from the currently held 957 acres in Park City as follows:

a. Oil Reserves USD $50.2M

i. 290.18 Mbbl Proven (USD $15.9M)
ii. 623.26 Mbbl Probable (USD $34.3M)

b. Natural Gas Reserves USD $34.9M

i. 120.98 MMcf Proven ($4.2M)
ii. 879.11 MMcf Probable ($30.7M)
iii. 9.79 BCF PIIP (Not yet valued as these estimates includes areas not yet discovered.)

Potential Revenues are based upon the reserves estimates provided in the independent report of Mr Barry L Whelan, (as attached) and assumes gas prices of USD$3.50 per mcf and an oil price of $55 per barrel.

It should be noted that over the calendar year 2009, gas spot prices have varied between USD$2.00 6.65 per mcf and the spot oil price has varied between USD$30.00 82.00 per barrel."

JB