Post by
smmtrs on Mar 16, 2012 11:49am
Financing and production
Just a few points that I have gleened from conversation with Sean Kehoe this week. Debt financing money is in place. As far as I know not from smokin Joe and his guys.This is good news for several reasons,this means no share dillution ,drilling can resume after breakup .Another well will be drilled at Roncott ,hopefuly a horizonal that could produce 200 bbls verses a verticle at 30 bbls. However the end result will be that ATK will earn more sections of land in Roncott from CPG., yes the company that is in the process of aquiring REL.Also found out ATK produced 10,000 barrels of oil in Feb that generated a million dollars . As ATK increases production the company can become financially self sustaining.At this point ATK has 20 net drilling locations in Spearfish and about 30 in Roncott.
Comment by
davwal on Mar 17, 2012 2:28pm
good post ssmtrs ,that is exactly what we need to happen! Just like that and we will be laughing,any other way will not do!