Artek Exploration Ltd ARKXF

Kelt is up and RTK is down

[shambano1]

how does this make any sense since they are 50/50 parters in Inga/Fireweed ?

yes they both have other properties but considering most of RTK's capex is going into the JV property then shouldn't both rise.

plus consider that KEL is almost at 11 and we are at 3.50, then that's a big difference as well.

maybe KEL will offer to buy RTK aty some point in 2014 with their expensive currency??

RTK seems like a deal to me but of course I'm long and biased but I don't get todays marekt actions for sure

DYODD

[nlr2]

Could it maybe be a debt concern? They are exiting 2013 with 60 some million in debt, forecasting cashflow in 2014 of 41 million and planning to spend 60 some million. So for 2014 they would be at 80 millionish of debt to 40 million of cashflow. Potentially would the idea of being over 2 times debt to cashflow scare some off? I like the company, seems like they have good assets and the looming

[shambano1]

debt is creeping up a little but they have oil assets that they can sell for 30-40 million if they need to and they have low outstanding shares, so new offerings are an option if they need to raise cash. good point but I don't think it's a problem as yet. Plus I do expect their partner Kelt to possible buy them out at some point if they stay this cheap since the Inga/Fireweed JV is a

[nlr2]

Ya those are fair points. If they crack the Inga montney then they should be able to easily sell Leduc Woodbend and roll the money into development drilling. That would make result in a major shift change. I have been looking at Artek, Yoho, Storm, Crocotta and Kelt. Artek compares very favorably other then the debt to cashflow.