fire sale, page-8

Pretty poor result for 50% of 5000acres.

The FREE CARRY was worth $875,000
so we got $375,000 for net 2500 acres in a prime shale gas prospect.

$150 per acre. Compare that to the Chevron deal at $500.

The only thing I could say would be that the acreage was fragmented, and non contiguous acreage is not worth so much as a block for obvious reasons.

Would have thought around $2m adding acreage and free carry.

Disappointing result and they are definitely price takers right now.