RE:RE:RE:Buzy morningTheinvstore
Just to clarify, WPX & RIO lease the freehold properties or hold Permits (initial Crown acquisitions, later becoming Crown Mineral Leases) , as opposed to "owns" the land. RIO secured the Crown Permits in their block, however, WPX pursued freehold rights outside it's permitted block and beat RIO to the punch in a big way. I believe the concern on RIO's part is, if you set your 40-50 year mine plan, generally that plan would involve contiguous properties, comprised of several sections of land. I also believe that if RIO cannot come up with a mine plan in and around the numerous/scattered parcels being controlled by WPX, pooling of the of the production in the mine plan may be hindered. This should be great leverage and/or negotiating tool that could demand a sale price north of the talked about $2.00 WPX shares if a buyout takes place. If the "blunder" is a serious set back, maybe RIO realize they need WPX as a partner!! My wishful forecast, have a good evening.
Eddie