The company was always cagey on that detail, back in the day when the company was trying to sell the play (By memory it was Dec to Dec roughly, 2007 - 2008).
Its clear that bidding was based on the strategy that one bidders efforts/price would rival opposing parties and the price would inflate - but noone bidded, according to my sources. Whether or not there were silent/undisclosed offers and the company rejected them we will never know how to measure the companys decisions unless they disclose it and accept the scrutiny.
Ultimately, we were left with trying to put a figure on it ourselves while the whole thing was going down in a bull market gloabally with a gas price of up to $14 per BTU, which were phenominally good conditions!! We guessed at between 4 - 10 million back then, with better production than nowadays mind you - but we are not qualifed to value a company, merely speculatory valuation of amatuer quality of course.
L
MAE Price at posting:
1.5¢ Sentiment: None Disclosure: Not Held
