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 > Getting back to the old Akita

View:

Post by lifeisgood1010 on Jul 31, 2024 8:34am

Getting back to the old Akita

Akita is rebuilding it's balance sheet at a rapid pace.This used to be a debt free company prior to
the Extreme drilling acquisition.

We all knew that Q2 would be a non event quarter.Looking at Q2 results is backward looking.

The important thing is what lies ahead for Akita and for that matters most if not all drilling company.

If you look at the long term chart, it as been in a basing phase.Once we have a breakout
this stock will be moving fast and at much higher price.

Drilling company will be one of the best place to be invested in in the next 12 to 24 months.

Valuation is very low while profitability will rise significantly for these company.

At some point in time, probably early next year, Akita will/could announced either the return
of a dividend and or a NCIB

Staying long for the next 2 years (At least)