Bullboard - Stock Discussion Forum 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... see more

TSX:AKT.A - Post Discussion

AKITA Drilling Ltd > RE: the cheapest stock on the TSX

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Post by lifeisgood1010 on Jul 26, 2024 2:13pm

RE: the cheapest stock on the TSX

When i started building my position of 50,000 shares in DRX in mid 2022 i use
to post a lot on what i was perceving as a very undervalued company versus it's asset price and future profitability.

The stock went no where for more than a year and then it took off.

DRX was trading at half it's book and the sector in witch it was operating was very promissing.

Akita is trading at on third(1/3) of book and about one fifth(1/5) of it's rig market value.

The profitability is improving so to is it's balance sheet.

Yet, because of it's size, it flies under the radar and is still unnoticed.

This will change once Q3 results gets reported.

Maybe not next week when they report Q2 but surely in Q3

Unless we get very optimist vues from management in next week results.

Thank you to the few posters who gives their opinion on this company and on
this sector.Be it positive or negative.

We always have something to learn from others

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