pearsall shale transaction $14,300 per acre

Haven't seen this mentioned by anyone so I thought it was worth a thread.

http://seekingalpha.com/article/730651-with-the-cabot-oil-gas-osaka-joint-venture-pearsall-shale-joins-the-horizontal-oil-race

It certainly puts our EF acreage value into perspective given the Pearsall is relatively unproven.

$14,300.00 per acre would give us $102,902,800.00 in the kitty. An interesting number given our current MC less cash backing is around 90 million.

I have a hunch our proven and producing acreages could go for a bit more but obviously the ASX thinks otherwise.

Soon we will now what our industry peers in Texas are prepared to pay.I must admit I'm starting to get a bit impatient! :D