MOO Paid $10.84/acre for HamburgWow, with all that potential in unproven resources, the Majors should must feel stupid, LOL.
Not as stupid as those poor retailers that will be left holding the bag I'm afraid. Nothing proven here except for the HYPE. The rest will play itself out as most other Promos have in the past. Cheers and happy trading.
The following is from Mooncor's MD&A for the Year End Financials just out. $617,925 for 56,960 acres works out to $10.84/acre:
(viii) Hamburg - Chinchaga
During 2008, the Company acquired for cash of $617,925, 56,960 acres of 100% working interest lands on a shale gas play in the Western Canadian Sedimentary Basin. This property was acquired at Crown land sales through brokers. The Company has also acquired a cased, suspended wellbore and four associated sections (2,560 acres net) of land on this shale gas play (included in the acreage mentioned above).