Good to get an update. This is actually the first update that...

Good to get an update. This is actually the first update that was non mandatory they've given.

In the last quarterly announcement they said they were finalising the leases, now it sounds like these are done deals and they have added to the acreage. What is most pleasing to hear is that it is economic at today's prices (currently WTI $34).

Still a bit of confusion over their terms leasing & acquisitions. They say they are "pursuing acreage and assets" then go on to say "...continues to pursue asset acquisitions that meet the same criteria"
I presume this current deal is purely leasing and they are still looking to acquire assets. As I posted a while back, landowners/farmers unlike here, own the mineral rights below the surface. Some lease it out & some sell the below ground rights receiving a payment but no ongoing commission. So they are still looking to buy these rights or possibly a whole distressed company itself ?