Verisante Technology Inc V.VER

Price

[operator5]

I just realized I was wrong.  $10 million for 50% is "just right" in a relativistic sense to stock price.  If Vecta gets 45,000 net acres in the play, that ranges from 500 to over 1000 bucks per acre right now, and a good chunk of that money goes towards improving the acreage, instead of just acquiring it (seismic, drilling wells, etc), then VERs current stock price is probably 50% low at 500 bucks an acre, and 150% low at 1000 bucks.  Nearby drilling success enhances this, as will be evidenced by increasing acreage value, and production on the lands increases it a step function.  It isn't hard to see this at a buck post financing with some nearby an on property drilling success.  Likewise, it isn't hard to see it at a nickle or a dime if this play fizzles out altogether.  I say a nickle because a refinance will allow Vecta to do some work on its older Gilby lands and await its carried drilling results, so this won't be a pure loss.