This might help. Fayette County is half way between San Antonio and Houston on E/W Interstate 10 and N/S Highway 77.
http://www.co.fayette.tx.us/images/locator_map.pdf
So Discuss. what is this new area like?
why wasnt it snapped up by someone else earlier? Will hilcorp be on board doing the drilling?
what are others thoughts. i was going to jump in on the EKA ride this morning..
I Have been trying to find Fayette County on the map.. but come up with nothing!
I finally bought EKA this morning, i like what i see they have done with the extra acerage in terms of a TO value which is the reason i bought in.
USD 821,500 in cash and 900,000 new EKA shares
761 Acres @75% NRI. = 570.5 Net Acres
900,000 shares at say 27c = 243,000
821500+243000=$1064500
1064500/570.5 = $1865 per net acre.
At $15M NPV per well say 50 acre spacing it can provide 11 wells $165M
Using a 20% value on future NPV , they just added something like from $16 to$32M to the value of a TO of EKA, for a little over $1M dollars. = 10c - 20c per share for a TO.
Wonder who leaked it to the market yesterday?
Smart move imo.
There's little that can be better than a stock that closes on its 52-week high on a day when the rest of the market is hammered.
I havent traded my 1 for 6 as yet...just waiting to see what happens in the next few weeks in regards to a possible takeover ...for now I holdWhat makes it even better is the fact that we could buy 1 for 6 held at only 17c. It weathered the dilution.
seems like everyones holding for an upgrade on the back of the AUT reserves report and all the TO speculation. Not many on the sell side.
Good return for EKA today, but I think its almost made its top for now (IMHO about 25% of AUT'S SP)
AUT could make $1.10 tomorrow which would make EKA at about .28 cents.
I also think that the possibility of a takeover is worth a few extra cents, so an SP of .31 cents maximum this week.
A top today of .28 cents is a level that we haven't seen since 19th November 2007.
Good luck to all EKA holders
I hold EKA
DYOR
I see problems here. EKA is now in a trading halt until Friday. This is more than the announcement of a resource upgrade. For the upgrade AUT only went into a preopen for 20 minutes. It is more than just that announcement.
I smell a takeover. I say smell because I suggest it will stink. We were robbed with the opportunistic takeover of ADI and it is now possible that it will happen to EKA. I'd like to think it is a share swap with AUT as that would be a sweet smelling one. A buyout by AWE is the one I worry about.
Friday cant come soon enough!
I see problems here. EKA is now in a trading halt until Friday. This is more than the announcement of a resource upgrade. For the upgrade AUT only went into a preopen for 20 minutes. It is more than just that announcement.
I smell a takeover. I say smell because I suggest it will stink. We were robbed with the opportunistic takeover of ADI and it is now possible that it will happen to EKA. I'd like to think it is a share swap with AUT as that would be a sweet smelling one. A buyout by AWE is the one I worry about.
Friday cant come soon enough!
AWE reserve report for Sugarloaf AMI
AWE Limited (“AWE”), via its subsidiary Adelphi Energy Limited, refers to an announcement by Aurora Oil & Gas (“AUT”) this morning in respect of the receipt of an independent Sugarkane reserves certification from Netherland, Sewell and Associates, Inc (“NSAI”).
AWE advises that it has received a draft reserve report only from NSAI in respect of its Sugarloaf AMI reserves. On receipt of the final report which is expected shortly, AWE will release further details.
This is more than the announcement of a resource upgrade.
Slightly. They've also announced that they expect income from the initial wells to start last quarter this calendar year, rather than 1st Q 2011.
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