capital raising, page-21

Well said Agent, I agree.

SEA will be utilizing longer laterals than usual (as mentioned in the announcement), I'm guessing not only because of potential economic improvements, but also to access the oil and gas from the leases in the middle of the Choke Canyon Reservoir (the surface water body).

So obviously the majority of wells will be from the southern shoreline extending underneath the lake (the horizontal wells being 10,000 feet below the lake though).

I'm interested in finding out who was the previous owner of the acreage. A quick internet search shows the Choke Canyon Reservior is owned by the US Federal Government, and the fact it's 2 year leases with a 1 year extension (i.e. simplistic numbers)lead me to believe that it may just be federal land which is being leased out (as opposed to land being sold-off from another oil and gas company).

I hope it is indeed the federal government leasing out, because from my experience, the Federal retained royalties are usually lower than standard industry practice. (Usually I'd expect SEA to have a 75% NRI, but if it was purchased directly from the Federal Gov, it could be even higher, which would work wonders for economic performance of the wells).

Agent, do you think SEA might be looking for another maybe smaller sized bolt-on acquisition in the area?

Disclaimer: The potential of it being a federal lease is purely just an opinionated theory of mine. It has no substance..... IMO DYOR as they say!