Good call on the US Annanaum. Shale plays are in big demand now and acreage values are up accordingly. Two agressive buyers are Occidental and Veneco who just happen to be adjacent to some of our acreage in San Joaquin CA.
Its got to the point if you can't get the acreage directly get it via M&A activity.
Oil shale with some gas is particularly in demand as the cheap value gas is used for the heating in the steam process to extract oil reducing extraction costs significantly.
NEN Price at posting:
44.0¢ Sentiment: LT Buy Disclosure: Held
