Alaska, page-48

Ron.
from page 8 of the same report
1/03/2015 buyer Borealis (Otto) from Great Bear for us$45,000,000 for 60,000 acres or us$750 per acre


My recollection is that OTTO's per acre cost were us$342 per acre which included capped drilling costs for the first 3 wells.

OTTO paid us $14 million to Great Bear plus agreed to a us$6million drilling commitment(after OTTO acquired Borealis for aust $1.2 million paid for by the issue of 17518250 OTTO shares (equivalent to $490511 at today's share price of .028) The other us$25 million was optional.