I said so many time what i think about Akita, i don't realy know what more to say
But i will give it a try once again.
I said EPS would come between 3 to 5 cents.They came in at 3 cents.
I said that Q3 would again be a non event.
This is a strory of Q4, 2025 and if we believe Precision Drilling 2026.
I think Akita will post at least 30 cents of EPS if not more over the next 2 quarter.
I also think that there will be a day in 2025 were Akita annonce a NCIB
and/or reinstate a dividend
Net debt to equity was 29.87% in Q2
Net debt to equity in Q3 is 29.80%
Akita's debt will be reduced if not in Q4 it will definitly go down in 2025.
Lower debt + lower interest rate feeds directly to the bottom line
Net debt to equity for Precision is 45.92%
Net debt to equity for Ensign is 71.93%
There was a cost and a drag to earnings to bring back rigs in service in the
last part of Q3.This cost is behind them
Akita ended Q3 with 12 rigs in Canada and 12 in the USA.
They are now running 13 in Canada and 13 in the USA.
The uncompleted but drilled well is way down in the Permian.Coupled that
with the high decline rate for shale wells....E&P will have to drill at some point in time
if not,production will decline drastically.
Akita's activity is way behond the competition.
I am as bullish if not more when i see Akita's activity level and balance sheet strenght.
Tax assets + rig value is north of $10
I cannot explain why Akita is trading at these crazy low levels.
But with so much value coupled with profitability, i can see a huge price appreciation
at some point in time
When will that happen? that i can't tell.But like any thing else in the stock market,if you buy a
well managed company an pay for these assets for penny to the dollard...
good thing happen with time.And time, i do have.
Timelo recently sold their remaining 58,000 shares.Timelo's cost was $1.06(See below)..
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