New to the board here. Had a few TW followers direct me here with latest press release.
Many red flags I see quickly. I'll do even more digging and post at a later date. How does this company go dormant for 9 months with zero news and missing deadlines drilling on existing prospects and within weeks of 52 week low then make this announcement timely with quarterlies. The quarterlies show nothing but burn rate of management being paid.
The Safari properties is only 40 acres? That is nothing and even smaller when rest of world going horizontal. Anyone else catch the wording of AOW hoping to be cash flow positive by end of 2017?!?! So does that mean the lease operating costs is not breaking even?
The Anasazi Propety is Gas and non-operated in areas that have been highly depleted and quick check of Baker Hughes Rig Count shows these counties are not getting new permits let alone rigs. Why can't we see the Net Revenue interest as it can't be too great as you mention Safari's but redact the non-op numbers.
I'll pull the Texas Railroad commission numbers but these Reserve reports seem to be highly questionable specially on one prospect only being 40 acres on an aging field.
I've seen this nunberous times. Management hit a penny and rush to flood market with sense of hope and justifying why Management is at the helm. Full report to come.
AOW Price at posting:
3.5¢ Sentiment: None Disclosure: Not Held
