GREY:DONYF - Post by User
Post by
countrysquireon Nov 13, 2013 9:51pm
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Post# 21904133
Land sale
Land saleQuestions for Wisee, or anybody: Is the land sold by Talisman for over $11,000/acre analagous to the 300 plus sections owned by DCK? If so, that would put DCK's NAV somewhere near two billion dollars. Last year, Keith Schaefer got excited when some Wapiti land sold for $3800 per acre. He said that would give DCK a per/share value of $8.50, if they got the same for their land. Some dilution has happened since then due to financings, but the Talisman land has sold for three times that much as the sale in the Wapiti last December. Is there anything I am missing here, or did DCK's potential value for its land alone just shoot up by almost 3X? Was Talisman's land more developed?
Also, Wisee, if land is going for $11,000 in DCK's neighborhood, why would they be satisfied with $5/share for a buyout--shouldn't they be holding out for more in the $15 range?