AKITA Drilling Ltd T.AKT.B

Akita prior CEO now with Ensign

[lifeisgood1010]

Their is consolidation in this sector.Having been CEO of Akita,who knows if 
Mr.Rudd make a pitch for Ensign to get these quality rigs at a cheap discount
Beside Aegis financial who owns 15.65% of akita, there are no other major 
holders.

Mr Rudd still hold a small amount of Akita shares.(59351 shares)

So it would be possible for Ensign to put there hands on the skilled labour force of akita and their good pad  rigs at a cheap discount.

Ensign just reported this morning a small loss in Q3 of 3 cents while Akita turned another profit of 10 cents.

This is a no brainer for an investor who is willing to wait a few months.

I truly think that this stock will double if not triple over the next 12 months.

Right now, i have 63500 shares and intend to add if the stock goes below $1.50

Here are the actual major shareholders of the class b shares.

Actionnaires

                     Akita Drilling Ltd. Class A (CA0099051009)                                      Akita Drilling Ltd. Class B (CA0099052098)                 

Nom	Actions	%	Valorisation
Aegis Financial Corp.	5 945 285	15,65 %	8 M $
Timelo Investment Management, Inc.	427 400	1,125 %	555 620 $
Colin A. Dease	136 395	0,3590 %	177 314 $
Darcy Reynolds	77 793	0,2047 %	101 131 $
Karl A. Ruud	59 351	0,1562 %	77 156 $
Charles W. Wilson	53 045	0,1396 %	68 959 $
Nancy Southern	36 909	0,0971 %	47 982 $
Loraine Charlton	28 752	0,0757 %	37 378 $
Arrow Capital Management, Inc.	28 500	0,0750 %	37 050 $
Douglas A. Dafoe	26 395	0,0695 %	34 314 $

• The Company is pleased to announce the appointment of Karl Ruud to the Company's Board of Directors (the "Board"), effective November 1, 2023, as part of the Company's ongoing Board succession planning. Mr. Ruud most recently served as President & Chief Executive Officer of a Calgary-based energy service company until his retirement in 2021.

OVERVIEW

[lifeisgood1010]

Correction, i wrote class b i should have wrote class a

[Possibleidiot01]

Overall, I agree with your thoughts on Akita. There are two points where you could be wrong , 1) Ensign buying Akita maybe in the mid term but probably not right now ( they have a lot of debt) and 2) Aegis being the only major holder ; They are of the A class shares but Sentgraf Enterprises , controlled the  Southern family   owns many class B shares. Roughly an equal amount to Aegis

[lifeisgood1010]

Good morning Possible, Thanks for your comments. I agree, Ensign as a lot of debt, and it's problems of it's own.If they were to get interested in Akita, i would not be for tomorrow. The possibility is slim but not existant. What i don't get, is the huge chasm between the SP and the assets value of Akita I would understand if Akita was on the verge of bankruptcy but it's not

[Possibleidiot01]

lifeisgood1010 The way , I view the oil and gas driling industry is, it's a brutally competitive arms race . Companies have to reinvest in the newest most efficient technologies and this takes money. Compared to say Ensign and Precision , Akita does lack some liquidity. The question is should book value be taken for granted? When you go the website you see these rigs in Canada that are not

[lifeisgood1010]

Could not agree more on your comment. Indeed it's a highly competitive market. What i do like about Akita is the casm in it's SP VS their asset value. Like you said, they don't have much single or double. Most are pad triple. Akita took huge write off for their assets during covid.They went close to disaster Now, they are tackling their debt(like most if not all of the drillers