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)
Tuesday, March 22, 2011
Mountainview Adds Acreage in the Bakken, North Dakota, USA
Link here.
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