Crossroad I haven't been in touch with anyone from the Company in many months so, much of this is assumption and opinion...not fact-based. I think we have come to a critical point in ATK's evolution. What they decide to do NOW will have signifitcant impact on our plight as shareholders for the near/mid-term future.
I can only assume that the lack of any news regarding future operational plans is due to the simple reason that they have not been able to enter into any agreements with other companies. Since,we are in no financial condition to go it alone on any of the properties, we are completely reliant on the priorities and timing of other companies.....and their money.
So,what are the options? Further dilution to get cash to drill our properties? Hopefully not. We have gone that route and it has resulted in a 5cent stock. Borrow more money? Better than dilution but increased debt eventually must be dealt with. Sell assets? If there is no intention to sell the Company, I guess this is a possible option. My concern would be the lack of investor interest in what kind of company remained after the sale.
I've made it clear on this board that I want this thing sold....the sooner the better. But I also understand that if they were to sell it tomorrow, the price would not be acceptable to all shareholders. My guess would be 8-10 cents. Fine with me since my cost base is quite low. I was hoping that they drilled the HZ well at Roncott and then sold the Company but it seems like they are having problems getting that done.
With PP Hills out of the picture, I just don,t see much upside with more drilling of these 50 Boe/d net to ATK wells. Investors have made it pretty clear that they are not interested even though the Spearfish project generated 7/8 producing wells.
MY VOTE...same as before....SELL NOW...and let's move on.