Reading the various posts puts up on the AZZ thread over the...

Reading the various posts puts up on the AZZ thread over the past week by people pushing or IMO blatantly trying to ramp the share price is IMO not quite true to be polite or to be factual: misinformation.

1. Acres

I beleive that AZZ has 18,000 NET acres and 30,000 GROSS acres.

Folks, they wont't get $X times 30,000. They'll get $X times the amount of their NET acres. For some poster to imply that AZZ is going to get upwards of $300 million is a blantant falsehood.

2. Location of land

I also beleive that the majority of the land being shopped around is located in the oil window and NOT in the liquids rich area.

Furthermore the closest wells drilled to the northern part of the land by others were low producers.

3. Other EFS transactions

IMO this aspect of the posts is the worst. Before people were hyping AZZ using Pioneer's sale. Now they are doing it again using TLM and CHK.

When you buy a house in Toorak you are paying for location, location, location, and then the actual house itself.

The same with oil leases. FIrst of all IMO AZZ land is much poorer quality than in the other three transactions due to location.

Second. in the Pioneer and CHK transaction there were substatial physical assets as well as producing assets that are being conveyed. These assets must be taken into account when determing the actual value of the raw leases.

For example, the CHK transaction includes about 5000 boe/d of production which if permanent production would be valued at about US$100,000 bop/d for oil or around US$500,000,000.

AZZ's wells are nowhere near that amount and must be taken into consideration if and when an offer is made.

4. AZZ's land is not unique

I see many EFS leases being put on the market everyday that range from a few hundred acres to tens of thousands of acres. Its no 'big deal'. Some look better than AZZ and some look worse.

Therefore, I still think that the land AZZ is selling will not obtain anywhere near the figures people are gushing about.

And lastly, IMO AZZ's market cap already includes a large percentage of a successful sale at those inflated prices being quoted unlike another company that I have shares in when they sold leases.