- Although Texas is shaping up and looking great and seems like it will provide valuable revenue for the company the Colorado Pathfinder Niobrara Project has even greater potential and they have 11,000 acres in Colorado vs 5,000 acres in Texas. Bring on those horizontals in Colorado (should get some news soon);
- A recent capital raising was completed and they have sufficient funding to complete the drilling program until mid 2013 and zero debt;
- Existing oil production from producing wells will provide revenue and assist to support activities;
- A successful drilling campaign in 2012 - 2013 and production from those wells will provide continued ongoing revenue which will be used to drill more wells and fund company activities going forward which in turn will grow the business;
- Richard Cottee, who was previously with Queensland Gas Company and more recently with Nexus Energy was head hunted by the company and has been appointed as chairman. I think he has a point to prove after leaving Nexus Energy and has some big plans for Austin Exploration. Further to this, he has the skills, experience, ambition and knowledge to grow the business;
- At 0.026 cents per share this company offers a great opportunity to get in low and make some serious coin;
- The recent media attention and share volume is attracting more and more investors to the stock and it appears to be undervalued compared to some of its peers;
JW
AKK Price at posting:
2.6¢ Sentiment: Buy Disclosure: Held
