TSV/TMK entry point, page-37

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JSB007

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06/05/19

22:03

Post #: 38436407
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Originally posted by cmonaussie: ↑

Finally found what I was searching for.

First, going back to the Crew Energy sale of Goose acreage

Crew sold 18,400 acres in May 2017 for $49M ... $2,663/acre

Crew Energy bought this package in Mar 2013 .... kept Attachie and sold Goose. And 2013 was in LNG land grab era

So Crew paid $20M at $529/acre (so total of 37,807 acres)

There's the land flip example we would like
Buy undeveloped land in Mar 2013 at $549/acre and sell it 4 years later still undeveloped in May 2017 for $2,663

What changed?
For sure "The anticipation of LNG export facilities on the west coast of British Columbia has fuelled a number of transactions among predominantly Pacific Rim gas buyers". IMO reality set in by the end of 2017 when projects were being pulled. Finally got LNG Canada to be built ... but its a way off and the partners already have their own gas resource. Plus all that development but not corresponding egress facilities, especially export options (not counting export to USA) hit hard. Classic oversupply.

So $549 to $2,663 is 4.85X
What to use as the relevant acquisition price for CE1 acreage ... $160/acre price ... would that be approximate in 2013? If so then 4.85X = $776/acre
With ~72,000 acres that becomes ~$56M. Add in the $25M of improvements. "Value" = C$81M ... ~AUD$86M

@sucker ... I guess ~AUD$86M is the "new target" or about 6cps (sadly).

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I'm not following your logic. If an acre is worth $2,663.00 then why wouldn't it be $2,663.00 x 72000 acres?

We don't have to multiply $160.00 by 4.85.

What it would mean is CE1 bought cheaper than Crew but sells at the same price, meaning more profit margin for CE1.

CE1 Price at posting: 3.0¢ Sentiment: Hold Disclosure: Held
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TSV/TMK entry point, page-37

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TSV/TMK entry point, page-37

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Neuren sees FDA greenlight for 3rd trial into children with Phelan-McDermid syndrome

Arika to pump $3.2M into gold exploration at WA's Yundamindra following strong maiden program

Nyrada rat study shows no genotoxicity in brain injury drug NYR-BI03

Leukaemia patient shows complete response in Chimeric Therapeutics' latest trial

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

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