latest sale, page-23

paying a straight $5900 per acre is great and selling for $3275 is still pretty good...considering it has been carried at around $100 for a few years.

but remember

we have a 4.8%!! free carried royalty on the 24,000 acres sold.


potential upside is $100m+ imo, more than the total sale.

means the buyer has 37.5 sections to drill on at 3-4 wells per section.

110-150 wells at current EUR of 290,000 (current EOG estimates)

possible 32m - 43.5m barrels of oil.



this is a great deal for us, don't forget that royalty.
It's worth millions