The 2300 acres talked about with Terrace if it was actually part of the original LOI may well be the Irion land we own.
It is possible they were trying to farming out that land and share the risks.
We got our EFS land for less than $700 an acre and that may also be part of the picture with Terrace.
It is separate from the Reagan land and hasnt been drilled by us as yet. At this stage without having been proved up will have a low value. That sort of land would probably only bring in $1-3000 an acre.
Also Im not sure if the cline reaches that far south its hard to get an accurate picture of it but the maps Ive seen put us right on the edge.
Its possible at this stage any JV may only cover our Reagan land which of course is being proved up.
Cheers Whisky
GGP Price at posting:
1.8¢ Sentiment: Hold Disclosure: Held
