$20 StockThis could well be a major new basin find very similar to the Barnett shale in Texas.
Land is leased at $25,000 per acre plus a 25% royalty.
The big difference here is that the Utica would get a much higher price for their gas and all the infrastructure is already built in.
After the Squatex deal PCQ holds approx. 600,000 acres after figuring in 30% of Squatex.
Say PCQ's land was eventually worth $10,000/acre.
That would give PCQ a worth of $6 billion. Without any royalties added in.
80 million shares out.
That would be $70/share.
Not to many opportunies come along like this and with the price of oil and gas
we are looking at the perfect storm.