Ann: Company Secretary Appointment/Resignation, page-2

Had a look at Storm Resources, they have 120,000 acres, and Debt & mkt cap of $300 million (EV), they're going backwards at the moment, negative EPS. Their liquids percentages looks same as us if not lower (top quartile). But obviously they have producing wells, (they seem to drill wells for a fraction of the cost we did)

Took a look at SPI CN (CSRI) , 27,000 net acres (with a WI of 55%) , and then they go into a speil just like we do about acres trading for as high as $9,500 around them. ""ARC Resources Inc., at a July 26, 2017 land sale, purchased 13,855 acres (~21.7 sections) at Attachie ~6 miles north of CSRI’s East Block Attachie lands, for $77.0 million, which valued the land at $5,558 per acre""".

""CSRI’s Montney assets with 9.0 Tcf TPIIP and >26,800 acres of land, based on recent land transactions and using a conservative range of $1,000-$2,000 per acre, values CSRI at $27-$54 million or $0.14-$0.28 per share"", it trades at 4 cents and is mainly all about gas

So for mine it's all very simple in hindsight, the sector went from boom to bust soo quickly that no one had time to recalibrate. 2017/18 wasn't that long ago, so companies still cling onto metrics established then. We're still sitting on a huge amount of gas (and condensate) and maybe the cycle can turn back up as fast as it collapsed. Canada and the world has to go for growth .