RE:Question pleaseGood morning Angles,
Akita is much more tilted to oil then gas.Recently they have converted one rig(number 26)
to gas.
It has been drilling for Shell for the past few months.I know they are in the process to
convert another rig for gas drilling.
I too, saw the AECO price below $1.
Henry hub gas prices in the USA is creeping over $3 but our CDN gas is very low.
I am with you 100%.I see tremendous value in Akita but because of
the actual low activity it will take some time.
As of yesterday, Akita had only 6 of their 17 rigs working.
I don't have access to their USA activity
That is why i have been saying that it could take 12 to 24 months.
At one point in time there will have to be more drilling.
It's only a logical thing.NO DRILLING = NO NEW FINDING = LOWER PRODUCTION.
With all the data centers popping up, a lot of nat gas cooling will be required.
In the Permian, the natural decline is at least 6% a year.
Like anything else in the stock market, it's always a matter of time.
But for the short term, i don't anticipate any appreciation of my investment in Akita.
I am still holding my 97,600 shares and will keep them for as long as it takes.
Good luck with all of your investments.
P.S. I also believe in what Hockeyz and Blindpid are saying about Akita