Atikwa Resources Inc. V.ATK

News.

[stockmanners]

I think the key here is they have secured financing "without having to issue further equity at this time."

They likely won't draw on that line of credit until they drill more wells, so it is not correct to say they added debt.

That will happen when the next wells are drilled.

There will undoubtedly be more news in the near future. Probably something summing up production and outlining a plan for 2012.

 

Thanks,

Stockmanners

[DrillinisThrillin]

That could be but I doubt it.  I believe that they owe some money for past services on both Porcupine and spearfish and the cost of the HZ well along with ongoing costs to keep the lights on will just about eat up the 3 mill even with the income from the wells.   That's the way it was explined to me but you may want to call and I would certainly be happy to stand corrected. 

[funkshow33]

Keep in mind they are making 1 million a month in rev... @$100 oil... A couple of the GORR fund drills are almost paid out now too so that will help the bottom line.   Aside from that, I gotta say that was the worst written NR I've ever Read!  No production summary, No news on the fact that the 8th well is still cleaning up... #8 is not even included in that NR... It should another

[jubbyjubber]

I have e-mailed your queries to the company as I am a little pxssed off having waited so long for news as well, I will let you know whether they have the courtesy to reply