sorry to harp on (but Im on holiday in 2 hrs) this what sframe on yahoo made of the news. agree or not but someone thinking
If I'm not mistaken, this Texas American Resource Corp announced IPs of about 250 b/d on a couple of wells out east of Cheyenne a couple of months back. I don't know if this was the outer edge of the Silo Field or out toward Pine Bluffs.
In terms of somewhat proved up land: $5357/acre
In terms of oil, if flowing bpd is worth $50,000, then they are paying $32.5 million for the 650 bpd production, and $16.79 for what's in the ground. It's an updated guage of prices in SE Wyoming.
To ground us in reality, it is a little ways from our Hawk Springs wells (1.5 hour drive, I would guess). Also, from what I've read, BBG's land over southeast of Chugwater (along where GMXR and others) have not panned out to well so far.
Correct my math if you desire.
GLTA and GO SSN.
SSN Price at posting:
13.0¢ Sentiment: LT Buy Disclosure: Held
