P/WB,$5000/acre is what Sandridge trust value their...

P/WB,

$5000/acre is what Sandridge trust value their "undeveloped" acres at so hard to see these guys paying that price on a trade purchase. If it is $650/acre it is ~50% higher than what RFE were buying their acres for I believe and probably is an indication that the price tag is moving higher!

RFE has approx 45,000 "undeveloped" acres at present is has articulated to the market they would like >50k by June 30.

I am no genius with numbers but 50,000 X $5000/acres is $250m.

With roughly 270m shares on issue that is 250/270 = $0.93c per share - UNDEVELOPED!

The next stage is to "develop" ie: drill and have some success. Therefore, $5000/acre becomes a minimum benchmark according to a listed peer in the USA. (I am excluding all of Eask Ok here by the way)

I think you see my point. RFE is rediculously cheap! I sense that the last two trad days have shown that the SPP selling is drying up. Once it clears I would think stock sits in the mid to high 40's until spud date.

E