I'm not grinding any axe - i own shares - i don't pump. That is not the St. Mary's deal come on. That's their working interest and you know it - it's right from 2010 presentation from AXAS website.
We knew the offering was coming because 20-25 million aint enought to play in the Bakken. I don't have a problem with the offering - they need it. But it's quite obvious now that they needed the money to pay bills. I admit freely i sold another chunk this morning when i saw the Sanjel deal. Just the way it is. AXAS has potential but they always seem to trip on their own feet. May be a chance to get some cheap shares - truth is i look at AXAS as more of a trade then a buy and hold. I hope they do well, most of my money is in the safer players in Bakken.
The working interests figures were from the properties purchased from St Mary's. It was a brilliant move.
But, that's old news.
All the new wells being drilled by AXAS are a totally different story.
We know what axe you're grinding.
If you don't like axas, be upfront about your real reason.
And yes again - those old postings were an arguement as to which was the better stock to own - KOG or AXAS. That's why i have ten times more KOG shares then AXAS. Really looks smart now doesn't it - beings KOG has way outperformed AXAS.
I'm not a basher - i'm keeping it real. And those of us that said KOG was the better stock to buy in Sept of 2010 WE WERE RIGHT - THANKS FOR PROVING ME RIGHT ONCE AGAIN Gentle!!!! Your a good friend.
Yes, read the forms - AXAS has less then 20% working interest in their Bakken acreage that's a fact. First two wells are much higher interest then it goes down - unless they buy acreage around them. That's a fact. Their own k's show 18% working interest in Bakken.
You were already proven wrong once today and now here you go again. That's why i have sold a majority of my shares - the price went up with Bakken entry and now a ways down.
Anyone with brain new that they were gonna put out shares to fund drilling - especially with a large debt that has to be handled.