RE: Vulcan acquires Alberta gas propertiesFrom what I can gather from shareholders who attended last weeks AGM Vulcan will be very active on the West Coast in the coming few months....Mr. Laracy indicated in today's press release that he will be issuing an update shortly.
Re the Alberta project,this looks to be a tremendous deal for Vulcan.Potential reserves of 16bcf(best estimate)at ~$8mm/btu amounts to $160 mill.Vulcan(after payout) will own 75%....amounting to $120 mill. or $4/cash flow per share.
Of course, the question will be the percentage of the gas that is recoverable....the upcoming wells will quickly give us a better picture of the economics of this deal.
Right now, it would seem that Vulcan is on sale at bargain prices.
Len