Not quite. They do buy acreage (of quality) and then lease it out to operators. We drill an initial well to prove viability, then take a % of production. Additional wells on each lot are drilled at the other company's expense. It means we have ongoing income from each lot. This doesn't appear on the books, however, as it is used to pay back our funding facility. This net income is expected to reach 7 million or beyond this year ($US, I believe, but not certain here). Many including myself believe this is keeping the SP low for now, as a quick peek at the books doesn't show any turnover. Admin costs are minimal for a play like this, hence the relatively low cash on hand value. It outwardly appears we need a CR, but this is not the case. The company has confirmed this, but feel free to contact them to confirm. The increase in land value is of interest as it increases our buyout price, which many (including myself) see as the end-game here.
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