RE:RE:RE:RE:RE:RE:RE:RE:RE:Akita Drilling Ltd. Price Target Raised to C$3.75/Share To me, the Xtreme purchase in 2018 by Akita was very good/timely. Firstly, one of the only ways for Akita to expand into the US was to buy a US driller like this, at only a 32% premium to its then current 2018 share price. Would Akita shareholders sell for a 32% premium now? I am sure not. And Xtreme was already set up in the US with offices, locations, customer base, etc. If Akita were to buy 13 rigs like Xtreme’s, but brand new at $25M each, that would be $325M and would take years to build and would have had to be paid with cash, not shares. And it would have no infrastructure set up in the US. In fact, it is the Xtreme shareholders who have taken the biggest hit, since they received shares of Akita as payment at over $7/share and now they are under $1.50/ share. Because Akita paid in shares, the Xtreme purchase price is much lower now since the Akita share price is down by $5.50 ($7.00 - $1.50). In fact the Xtreme purchase by Akita is now $122.3M (22.24M shares X $5.50/share) lower than the $211M paid for Xtreme, or $88.7M. Seems like a great deal for new Akita stock purchasers.