AKITA Drilling Ltd T.AKT.B

Primary Symbol: T.AKT.A Alternate Symbol(s): AKTAF

Energy Oil & Gas Drilling

AKITA Drilling Ltd. provides contract drilling services, primarily to the oil and gas industry, in Canada and the United States. The Company is an oil and gas drilling contractor with a fleet of about 32 drilling rigs. Its United States fleet is supported out of its operations base in Midland, Texas and consists of 13 high specification AC triple rigs, one high specification AC double rig and one DC triple rig, all serving the Permian Basin. With a fleet of 17 rigs, its Canadian division operates in Alberta, British Columbia, Saskatchewan, and as market conditions dictate, the Yukon and the Northwest Territories. The Canadian division operates both wholly owned rigs and rigs. Its Canadian division primarily operates in the oil sands, heavy oil regions and in the Montney deep gas basin. In addition, the Canadian division plays a role in drilling potash and other energy transition targets, including carbon capture wells, hydrogen storage wells and geothermal wells.

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AKITA Drilling Ltd

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Post by lifeisgood1010on Feb 07, 2025 2:25pm

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Post# 36443291

I still maintained that Akita will double in price in 2025

I have so far been proven wrong in my prediction but for me it's only a matter of time before my prediction comes to fruition.In fact it may be more than a double.

I listened to the video that Blindpig posted.And once again it gave me even more confidence in what is happening with this disregarded company.

Akita is a well run company but because of it's size it flies under the radar of almost every investors

In the video,Colin Dease said that they were right now running at 82% in Canada versus 70% for the industry.

But more importantly, Akita was running at 86% in the USA versus 39% for the industry.

They seemed confident that they can keep the rigs busy for the whole year.

Coming in Q2, they will have to do something with the
excess cash flow because their LT debt will be lower than what they had targeted

The fact that the stock is not moving does not concern me at all.

In fact, i have never been so confident when i see these operating days%,the strenght of the balance sheet coupled with the very good earning to be realize this year.

With these kind of operating days, it is not a streach to say that Tim Monachello's(ATB Capital)
numbers will be surpassed.

In is latest report he was forcasting:

EPS of 48 cents for 2025 and 57 cents for 2026
Cash flow / shares of $1.41 for 2025 and $1.56 for 2026
Distributable free cash flow of 87 cents in 2025 and 99 cents in 2026

AND THE STOCK IS TRADING AT $1.66.It as to be one of the chaepest valued stock on the TSX

These forcast are based on lower operating days that we are seeing since Q4 of last year.

Last year it was Timelo Investment that sold is whole huge position in Akita.

In november and December,Foyston as sold 149,900 shares.Taking their position from
1,375,700 to 1,225,800 shares.

Are they still selling?i could say since i have access to delayed reporting.

When you have such an illiquid stock,it doesn't take much to keep the lid on the cover.

I think that the catalyst will come with Q4 reporting in March and more so when they report Q1
in early May.These results will be an eye opener and we should get color on the bord decision for capital deployment.

What is a few months of waiting to finally see an huge upward move in the SP.
For football fans like me.Have a nice Super Bowl.It should be a good game.

(Reuters) - U.S. energy firms this week added oil and natural gas rigs for a second week in a row for the first time since July 2024, energy services firm Baker Hughes said in its closely followed report on Friday.

The oil and gas rig count, an early indicator of future output, rose by four to 586 in the week to February 7.