RE:RE:RE:RE:RE:RE:Akita Drilling Ltd. Price Target Raised to C$3.75/Share You'd have to go back much further than 2018 to see the explanation. Both PD and AKT have had portfolio ruining falls of more than 90% off their all time highs. Only PD's crushing drop occurred before 2010 from $1000, and can be partially explained by their expensive buyout of Grey Wolf Drilling that diluted their shares and added a pile of debt that they're still digging out from. In relative terms, Akita's puchase of Extreme Drilling in 2018 did the same thing with more than double the shares out and adding lots of debt. On paper both purchases looked good, but only for "drill baby drill" . That didn't happen so both companies were left with many more shares, lots of debt, and lots of spare rigs rusting away in yards.