RE:RE:RE:RE:RE:RE:RE:RE:Akita Drilling Ltd. Price Target Raised to C$3.75/Share The purchase of Extreme was almost like "dammed if you do dammed if you don't". There were times when the only real business they had was in the US with almost no drilling in Canada.
Akita trades at 36% of it's book value compared to 86% for Precision Drilling. Eric Nuttal had PD as a top pick so he thinks it is undervalued, and his fund owns 10%. Even if both only achieved book value it would be $4 a share for Akita with more upside potential. However, it would require Akita to get on the radar of larger investors, but with only a market cap of $60 million it's difficut to get a buyer like Nuttal interested.