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[JonnyR512]

I was keeping an eye on this play when they anounced a JV with Traxxion in the Bakken area. Now with news today of CGP buying Traxxion, I think ATK will have a better rounded partner to assume the JV drills with. Also ATK already has production on their other properties.

Crescent Point to acquire TriAxon for $248.7-million


2009-11-09 07:54 MT - News Release

Mr. Scott Saxberg reports

CRESCENT POINT ENERGY ANNOUNCES INCREASED VIKING AND BAKKEN LAND POSITIONS WITH THE ACQUISITION OF TRIAXON RESOURCES

Crescent Point Energy Corp. and TriAxon Resources Ltd. have entered into an arrangement agreement under which Crescent Point will acquire all of the issued and outstanding shares of TriAxon for consideration of 0.18 of a Crescent Point share for each TriAxon share plus the assumption of approximately $17.3-million of TriAxon net debt. Total consideration is approximately $248.7-million based on a five-day weighted average trading price of $37.71 per Crescent Point share. TriAxon is a private exploration and production company with assets in the Bakken and Viking light oil resource plays in Saskatchewan and the Pembina Cardium play in Alberta.

TriAxon's assets include more than 148 net sections of undeveloped land, including 63 net sections in the Viking light oil resource play in the Plato area of west-central Saskatchewan. TriAxon also operates the Flat Lake Bakken play in which Crescent Point currently holds a working interest.

TriAxon is currently producing approximately 1,400 barrels of oil equivalent per day, of which approximately 130 barrels of oil equivalent per day and 170 barrels of oil equivalent per day are from the Viking resource play and the Flat Lake Bakken play, respectively, and 1,100 barrels of oil equivalent per day is from Alberta, which includes 560 barrels of oil equivalent per day from the Pembina Cardium play. In the second half of 2009, TriAxon successfully drilled two step-out exploration horizontal wells, one currently on production and one awaiting completion, that significantly increase Crescent Point's estimates of the size of the Flat Lake Bakken pool. Crescent Point believes that this drilling success, combined with TriAxon's large undeveloped Viking land base, provides the potential for significant production and reserves growth from these two plays.

"Over the past few years, TriAxon has aggressively pursued high-quality plays with significant recovery factor upside," says Scott Saxberg, president and chief executive officer of Crescent Point. "They have established leading positions in the Viking and Flat Lake Bakken plays in Saskatchewan. These assets complement Crescent Point's existing Bakken assets very well and provide us with the opportunity to lever our tight oil expertise into a large land base in the emerging Viking tight oil play."

"Crescent Point shares our strategy of balanced growth through the combination of technology and large resource in place assets," says Jeff Saponja, president and chief executive officer of TriAxon. "We have exposed our shareholders to a significant amount of long-term upside with the asset base we have built. We are excited to roll these assets in alongside Crescent Point's assets and to participate collectively in Crescent Point's long-term growth."

The arrangement is expected to be completed on or before Dec. 15, 2009, and is subject to TriAxon shareholder approval, court approval and other conditions typical of transactions of this nature. The boards of directors of Crescent Point and TriAxon have both unanimously approved the arrangement and the board of directors of TriAxon has resolved to recommend that TriAxon shareholders vote in favour of the arrangement. Owners of TriAxon shares representing approximately 30 per cent of TriAxon's issued and outstanding shares have signed lockup agreements and have agreed to tender their TriAxon shares to the arrangement.

Key attributes of the assets to be acquired:

Greater than 148 net sections of undeveloped land, including 63 net sections in the Plato Viking resource play;
199 net drilling locations, primarily in the Plato Viking resource play and the Flat Lake Bakken play;
Current production of more than 1,400 barrels of oil equivalent per day, approximately 80 per cent of which is light oil and natural gas liquids;
Net tax pools estimated at $99-million.

[JonnyR512]

Great article and video below on Cresent. Cant wait for ATK to work with them, but most likely a buyout in my opinion. Enjoy under 10 cents

A great article from the Globe and Mail. Posted below but here is the link --> reportonbusiness.com: globeinvestor.com - Saskatchewan oil play gains momentum

BNN Video from Tuesday Nov.10 with Cresent CEO --> Crescent Point bulks up - The Globe and Mail

News from The Globe and Mail

Saskatchewan oil play gains momentum
Crescent Point's $250-million purchase the latest in a flurry of rich Bakken deals
NATHAN VANDERKLIPPE

00:00 EST Tuesday, November 10, 2009

CALGARY -- Forgetthe oil sands: Arguably the hottest chunk of oil real estate this yearsits in the pasture and wheat fields of southern Saskatchewan.

Farfrom Alberta's Fort McMurray, Saskatchewan's Bakken oil field was,until five years ago, thought of as a dud. Wells drilled into its denserock produced five, maybe 10 barrels a day.

But, in a mirror of the revolution that has overtaken North Americannatural gas production, technological change has brought great newvolumes of crude surging to the surface, and a flurry of deals to match.

In the course of this year alone, Crescent Point Energy Corp. ,which converted from a trust this year, has bought nearly $2-billion inassets and companies, many of them focused in the Bakken.

Its chief competitor, PetroBakken Energy Ltd., was formed in a$2.24-billion merger of TriStar Oil & Gas Ltd. with the Canadianbusiness unit of Petrobank Energy and Resources Ltd.

A third competitor in the area, Glamis Resources Ltd., has spent $535-million in five transactions this year.

Crescent Point Energy posted the latest in the transaction blizzard yesterday with its purchase of TriAxon Resources Ltd., an all-share deal worth about $250-million.

The consolidation has dramatically reshaped the Bakken, where 1,000wells drilled in the past five years have expanded by tenfold theestimates of oil in place - to between four and five billion barrels -and new technology has created economics far more compelling than theoil sands.

Crescent Point now owns about two-thirds of the land in the Bakken,and a similar amount in the Lower Shaunavon, another Saskatchewan playthat contains heavier crude.

The TriAxon deal also gives Crescent Point exposure to the Vikingplay, a less-understood field it hopes to tap with similar technology.

That technology involves the use of horizontal wells and multistagefracturing, a method that pumps high-pressure fluid and sand into therock to crack it apart so oil can flow out.

The first well of its kind was drilled in the Bakken in 2004, nearly60 years after oil was discovered in the area. It worked. The Bakkennow produces about 65,000 barrels per day. New wells in the fieldproduce as much as 250 barrels a day (a yield that drops to 25 barrelsby the fifth year of production) and economics so solid that evenduring the oil crash last year, Bakken producers were still makingmoney.

"The Bakken is economic at any price level," said Crescent Pointchief executive officer Scott Saxberg. "And the Lower Shaunavon isprobably similar."

Analysts have calculated that Bakken plays will break even with oilat about $30 (U.S.) a barrel. That calculation is part of the reasonwhy valuations in the area have been high. Crescent Point, for example,paid $142,643 (Canadian) per producing barrel of oil equivalent forTriAxon - double the average for Canadian energy transactions this year.

That's high enough to stir worry among shareholders.

"Paying rich multiples always gives us reason for concern," saidDean Orrico, chief investment officer at Middlefield Capital Corp. "Itreally does come down to management drilling these properties to ensurethe price is justified. That's a bit of a 'show-me' story."

And it may be time to call a halt to the buying spree, he said.

"We'd now like to see [Crescent Point] focus on what they've got and really prove that up," he said.

For all of the excitement about the Bakken and similar fields,companies have yet to find a way to wring more than about 20 per centof the oil from the ground. New techniques are promising - undergroundwater injections, for example, could boost recovery rates to over 30per cent - but the Saskatchewan plays retain technological risk.

And much of the 1,600-square-kilometre Bakken remains unexplored; other plays have seen even less drilling.

That means there is both plenty of opportunity - Crescent Point, forexample, has told investors it has the potential to more than doubleits reserves - and risk that new ground won't be as productive.

Investors, however, are nearly as optimistic as the companies working in the region.

"We still have great belief in the upside," said Glamis chiefexecutive officer Trent Yanko. Technology has transformed the newSaskatchewan oil fields, he said, "from something that was never eventhought of to a major world-class play."

CRESCENT POINT ENERGY (CPG)

Close: $37.80, up 50¢

***

Crescent Point moves

Jan. 15, 2009:

Buys Villanova Energy Corp. for $123-million.

March 4:

Buys 50 per cent of Talisman Energy Inc.'s assets in southeast Saskatchewan and Montana for $360-million in cash.

May 7:

Buys Wild River Resources and Gibraltar Exploration for $324-million.

July 2:

Converts to a corporation.

Aug. 24:

Buys Wave Energy Ltd. for $665.3-million, and several other southern Saskatchewan assets for $258.5-million.

Oct. 5:

Makes a $4.8-million investment in Reliable Energy Ltd.

Nov. 9:

Buys TriAxon Resources Ltd. for $250-million.

Staff

© The Globe and Mail

[JonnyR512]

BMO is almost done selling is 4 million shares position from that last PP. Once hes gone, this will move for sure. with CPG buying out all those plays in the Bakken area and ATK finding some good results from their seismic on the Bakken property, one successful well drilled will mean CPG jumping all over them.

Level 2

Orders/Shares Price Price Shares/Orders

13 / 401000 0.07 0.075 100000 / 1
6 / 515000 0.065 0.08 255000 / 4
6 / 187000 0.06 0.085 284000 / 11
2 / 105000 0.055 0.09 134000 / 5
3 / 220000 0.05 0.095 144000 / 6
2 / 30000 0.045 0.1 271000 / 8
3 / 120000 0.04 0.105 10000 / 1

[JonnyR512]

ATK's agreement with Triaxon was in the Roncott Bakken area in Saskatchewan

Here are other juniors in the same area, that also have a JV with Triaxon,
Except the other juniors are already producing from this Roncott location.
If you compare ATK with all these othes in the same place, you can see
right away that ATK is the best of the bunch because it’s a)NOT DILUTED AND
b)ITS NOT BROKE!


Govenment document on Bakken& Roncott. Roncott oil pool is shown on pg.13---> https://www.dmr.nd.gov/ndgs//bakken/...on%20Basin.pdf

Also, an Independent research done on Roncott for CEY by Sproule--> http://www.centuryenergyltd.com/i/pd...t%204Aug09.pdf


CEY:

May 31/09 Farm out agreement with Triaxon
Section was Roncott/Bakken oil field Sask
30% Int producting 40-50bpd
Company has 25 mil O/S, but is heavily in debt. CEY would need a serious PP or financing to resolve their current debt problem of $7 mil.

NVS: (was REG, just got rolled back for too much dilution)
Currently producing in Roncott as well
Map Roncott
Price 70 cents, 42 mil O/S
50% W.I. in 4,400 acres of land
Redevelopment potential in
Roncott Bakken pool
Production to date 800,000 barrels(light oil)
Three current producers
Current Activity: Recompletion of
pre-existing vertical wells and
reactivation of an abandoned
horizontal well

RYD
Next best play in Bakken area, but has already gone up quite a bit this year from the Triaxon JV and three successful wells(500% sp increase and still moving up)
Price $0.42 200 mil O/S also in debt and doing a $8 mil PP right now that will dilute the play even more
This was taken from RYD’s May 2009 News release. Both wells are from the Roncott area and production rates do not include the third new well drilled, obviously.

Ryland Oil reviews production rates
2009-05-27 07:12 MT - News Release
Mr. Gerald Shields reports
RYLAND OIL PROVIDES CORPORATE UPDATE
“The Roncott 2A1-6-2D1-31-05-24W2 is also a Middle Bakken horizontal well which was drilled approximately two miles east of the established Roncott field. Several minor refinements to the multistage fracture stimulation treatment appear to have yielded significant improvement in the well performance relative to previous completions in the area. Current well production is 58 barrels of oil per day with very limited reservoir drawdown. The company will be completing a workover within the next week to further increase the pump capacity on this well. Following a brief evaluation period of the results of increasing the size of the pump, plans are in place to conduct a similar completion on the recently drilled Roncott 1A-1-6-1D-16-6-06-24W2 well and a restimulation treatment of the Roncott 4B-4-36-3C-13-36-05-25W2 well. The workover/completion program is contingent upon Ryland raising additional working capital.
Total net production from all of Ryland's producing wells is approximately 210 to 220 barrels of oil per day at this time. Management believes that with limited capital expenditures covering the workover/completion program described above, production could be increased by up to 140 barrels of oil per day.

SO AFTER READING ALL THAT, WOULD I SAY THAT ATK HAS A GOOD CHANCE OF HITTING OIL? YES!

[roxxer]

Whats with the halt? anyone got any inside info on what the announcement will be?
Pick up the phone Jonny5
Could be a great buying opportunity. then again might need to jump outta a window.

TSX VENTURE EXCHANGE | TSX Venture Exchange Daily Bulletins

[JonnyR512]

halt??? atk just anounced a name change thats it.

[JonnyR512]

That last of BMO thats been holding atk down is at 7.5c from 361k shares. Once hes gone, this will run. Very undervalued right now

ATK level 2
Level 2

Orders/Shares Price Price Shares/Orders

2 / 260000 0.07 0.075 561000 / 2
11 / 1086000 0.065 0.08 70000 / 2
2 / 32000 0.06 0.085 95000 / 4
1 / 5000 0.055 0.09 94000 / 3
3 / 510000 0.05 0.095 3000 / 1

[JonnyR512]

Atikwa Resources Inc
Symbol ATK
Shares Issued 61,490,345
Close 2009-11-19 C$ 0.09
Recent Sedar Documents



Atikwa Resources arranges $500,000 private placement


2009-11-20 15:53 MT - News Release

Mr. Sean Kehoe reports

ATIKWA RESOURCES INC. ANNOUNCES PRIVATE PLACEMENT

Atikwa Resources Inc. has arranged a non-brokered private placement of up to 6,666,667 units of the company at a price of 7.5 cents per unit for total gross proceeds to the company of up to $500,000. Each unit will consist of one flow-through common share of the company and one non-flow-through common share purchase warrant. Each warrant will entitle the holder to acquire one common share at an exercise price of 10 cents for a period of 12 months from closing.

The offering is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and the securities regulatory authorities. The company continues to pursue additional financing opportunities.

We seek Safe Harbor.

[JonnyR512]

Interesting thing I read on another forum,

ATK ceo Sean Kehoe used to be CEO of LBR(Longbow Resources), that got bought out last year by "TriAxon". Now TriAxon farmed out that nice piece of Bakken land to ATK just before they were bought out by CPG?

I see Sean has some big connections, and in the end it looks like he could take ATK to a much higher level than I expected.

Sean Kehoe(ATK Ceo) background info:

Sean Kehoe: ZoomInfo Business People Information

Sean Sold LBR to TriAxon for $38.1 million (70 cents a share)
Longbow Resources Enters into Acquisition Agreement with TriAxon Resources

[JonnyR512]

New 52 week high! The halt from RYD could send ATK shares soaring if their is any news from 1) Bakken Area 2) Buyout from CPG

Level 2 looks very good

Level 2 QuoteMarket Maker Shares Bid Price Ask Price Shares Market Maker
-- 241,000 0.090 0.100 105,000 --
-- 485,000 0.085 0.105 15,000 --
-- 334,000 0.080 0.110 8,000 --
-- 325,000 0.075 0.115 35,000 --
-- 420,000 0.070 0.120 163,000 --
-- 975,000 0.065 0.130 53,000 --
-- 130,000 0.060 0.135 10,000 --
-- 5,000 0.055 0.140 80,000 --
-- -- -- 0.145 15,000 --
-- -- -- 0.150 35,000 --