TSX:AKT.A - Post Discussion
Post by
lifeisgood1010 on Sep 25, 2024 3:06pm
Drilling for Nutrien and 71%...
While activity in the drilling sector is still low, Akita Canadian activity are
showing more than decent activity.
With such a small market cap. This company flies under the radar of most investors and canot
be bought by big institutions.
Today, Aklia has 12 of their 17 rigs in activity.3 are on the move and 9 drilling.
That a 71% activity level.
One on the move is a telescopic double that will be working for Nutrien Potash operations.
The % for the Q3 will be lower than 71% but still way up vs Q2 witch was only 31%
Now the big question is,how are doing south of the boarder.
In their Q2 earning release management said that they were very optimist for improvement.
This should lead to increased long-term demand in the Permian basin, benefiting AKITA.
in Q3, Q4 and even better in 2025.
With depress WTI and nat gas,will this still be the case.
We know that Akita drills mostly for oil sands and has a few rigs for deep gas.
These deep gas are for long term projects.
One of the reason of the past few months weakness of the stock as been caused by the exit
of Timelo investment.
In Sept.2023 they had 747,800 shares.On the last reporting that i was able to see(May 2024)Timelo had only 138,000.
They may be out completly as i write.
With Akita LT debt going down coupled with lower interest, higher utilisation, tax asset not on the book worth more than the actual selling price and with rigs asset worth more than $8
it's only a matter of time before we see a huge appreciation of our investment in Akita.
Yes, i have been saying that for more than a year now.
Not always easy to have the right timing.
But i haven't change my mind in what i think will eventually be a very big rewarding investment
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