Tuesday, March 22, 2011

Mountainview Adds Acreage in the Bakken, North Dakota, USA

Link here.
Mountainview has acquired a 12.5% working interest in certain lands in the Williston Basin in Montana, comprised of 160 acres (net) of a 1,280 acre spacing unit (the "Lands"). The Lands were purchased from a private company owned by a related party of the Company (the "Vendor"). Pursuant to the Acquisition, Mountainview acquired the Lands for aggregate consideration of $160,000, being the same price on a per acre basis that the operator of the Lands recently acquired its interest in the Lands in an arm's length transaction.
$160,000 / 160 net acres = $1,000 / acre of Montana Bakken acreage. (Williston Basin, not Alberta Bakken)

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.