RE:running at least 11 rigs in Canada by August." So why did the analyst for Akita raise his target price by 39% from $2.70 to $3.75. To me, it is because of his last line “… Akita has line of sight to running at least 11 rigs in Canada by August”. Per page 23 of the 2023 Akita annual report, Akita had a 31% rig utilization of its 20 rigs in Canada. That calculates to 6.2 (20 rigs X 31%) rigs being fully utilized. If that changes to at least 11 rigs being fully utilized for 80% (due to spring break-up, etc.) of the time, it equates to 8.8 (11 rigs X 80%) fully utilized rigs, which is massive (not even including increased pricing power of the rigs). Adjusted Canadian operating margins would increase by 41.9% (8.8rigs/6.2 rigs), from $23.0M in 2023 to $32.6M, an increase of $9.6M ($23.0M X 41.9%) in profits in Akita’s Canadian operations only. Net income would increase by $9.6M from $18.4M to $28.0M and earnings per share would increase to $0.701 ($28.0M/40M shares) per share. Also, instead of paying off $24M in debt like Akita did in 2023, they would be able to pay off more than $33.6M in debt.