A Little Bedtime ReadingThere is a pretty good post on CPG's Bullboard dealing with Canadian shale oil plays. It is the MacQuarie report, which the skilled cut and pasters could provide here.
While REL is not mentioned (of course), a few items are noteworthy:
1. The majors have tied up most of the land with shale oil potential
2. Prospective land goes for as low as $40 to $300+ per acre, compared to the $10 Rel just paid
3. Not much is known about northern Montana potential--just as we had hoped (-:
4 The report itemises 11 factors dictating the economics of a shale oil prospect. It is not simple.
5. As land gets tied up, majors will have to buy juniors to get positioned