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Update: Amarok Energy (TSXV: AMR)

I first mentioned Amarok Energy (TSXV: AMR) (formerly Drako Capital Corp) on March 2, 2012 when the company was completing a $1.5M financing at
.20. I told my readers this was a story they could literally not afford to ignore.

To recap, Amarok Energy was created in part by Robert Dales who has had tremendous success in the oil and gas space. Bob and his colleagues have created and built the shells for great companies such as Celtic Exploration (TSX-CLT) recently acquired by Exxon Mobil for $1.55B, Manitok Energy (TSXV-MEI) $3.10, and Peyto Exploration and Development (TSX-PEY) $22.50 to name a few.

Since March, 2012 the company has been positioning itself for growth through a number of corporate developments including a successful RTO, completion of their first well with Manitok Energy which nets the company 9 boe/d, amalgamation with Trilateral Energy a private Columbian company, brining on key management, and completing a massive financing which I will touch on later.One of the most significant moves Amarok made was brining on two executives from Manitok Energy to be directors, Massimo Geremia (President and CEO of Manitok) and Tim de Freitas (VP Exploration, and COO of Manitok). Massimo and Tim have been indispensable in the success of Manitok and turning the company into a 3,500+ boe/d producer which is recently hitting 52 week and all time highs. Amarok also named Dale Swanson as President and CEO who has a long history in the O&G space.

Personally I view Amarok as a “Manitok International” per say. Amarok has given guidance that they plan to acquire and explore properties that contain these complicated thrust belt structures internationally. These thrust belts have been the focus of Manitok in the Foothills of Alberta and one of the keys to their success. Having Tim de Freitas behind the wheel steering the drill programs from Amarok I am confident they will be able to replicate their success internationally and add tremendous value for shareholders.

Don’t take my word for it though, just look at the recent $18.66M financing @
.30 Amarok completed. Clearly this management team is capable of raising significant capital and market interest. Now that this financing is complete Amarok has 83,659,189M shares outstanding with roughly $20M+ plus in the bank!!! Being able to raise this significant capital like this, in the market we are in, clearly shows these guys are good and have the markets undivided attention.

With Amarok trading around
.35 I feel investors have a great chance to get positioned in a story with absolutely massive upside. As always we look for teams, capital, blue-sky potential, and market conditions. I personally believe Amarok has it all. Keep your eye on Amarok in 2013.

As always, this is not an investment recommendation and everyone should do their due diligence and consult a competent financial advisor before making an investment decision.

 

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