The purchase price for the acreage includes an upfront payment (US$10.0 million) and two separate earn out payments due upon commencement of drilling (US$7.7 million) and payout of the first six wells drilled on the acreage (US$7.7 million). The term of the LAA is two years and provides a one year extension for $500 per acre extended. The acquired assets are contiguous with Sundance’s current acreage position in McMullen County, and increase the total project to approximately 13,000 net mineral acres or approximately 160 gross drilling locations.
sharejon, sundance is constantly looking for more acreages in the region imho
regarding the ownership of the mineral rights, i think its not federal government owned myself. the reservoir like many in texas happened post the mineral rights allocations imho..
will pick up more sea if it drops
imho the share was suppressed before the nasdaq listing, and the current offer is heavily discounted, which explains why it was oversubscribed.. happy to get some more
SEA Price at posting:
98.5¢ Sentiment: Buy Disclosure: Held
