university lands upcoming oil & gas lease sal, page-14

Spot on Whisky,

GGP would probably use the 15% to acquire more acerage but after the SPP raise they have a little wriggle room with cash as the prepare the 1st horizontal. That well is the key to the companies immediate future.
With the University auction does payment need to be paid on winning the rights. That would mean march and the company would be cashed up prior to the horizontal expenses.
Depends on payments for the horizontal. Could the company arrange some payment terms with the drilling company and halliburton and we would have a whole new ball game.
Just my thoughts/
Anyways it looks like the valuation of the company would increase and the SP should follow. Valuation report= increase in SP=more acerage=CR at less dilution