bell potter's latest report, page-10

Thanks Katana for pointing out the Radar article.

To answer questions about the $150-$200m price for Sundance's Bakken land: Recall the 4 July AFR article (and likely announcement somewhere) about Helis's proposed Bakken sale, and interpretation of that price for Sundance's Bakken land. Here is the excerpt:

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"Word is Helis's 12,500 net acres (32,000 gross operated) in the Williston basin area of North Dakota could attract a bid north of $US650 million of cash."

"Sundance owns 4000 net acres that are operated by Helis in the region. Therefore, if Helis achieves the mooted price for its own acreage, Sundance's ground would have a see-through valuation of about $200-$250 million. That compares to Sundance's market value of $161 million."
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Sharejon, you're on top of the details about Sundance's land holdings. Does the above quote explain Bell Potter's $150-200m estimate?