RE: RE: Fee MineralsQuicksilver owns cutbank field, I think, don't they? They hold a lot of Held By Production acreage. The search I did was leases taken in the last three years and these are only federal and state. Vecta O&G is a Texas company, and as such, must have a land department. Texas has nearly no federal or state lands, so if you are in the business there, you know how to deal with fee lands. You could be right, though, and the fee could represent too little for too much.
In any case, I have bought some, but am waiting to see what the final number shares there are, and the amount of acreage in attractive areas there is. If the market cap is below the price per acre that is "market" at the time, and the block is large and relatively contiguous, then Vecta Energy is a buy on the basis that it has at least aggregated a significant position that a larger company can acquire in one fell swoop.
ie if Vecta Energy holds, say 50,000 net acres, in an area where the price per acre is now 1000 an acre, then the
"asset value" is somewhere north of 50 million (the "somewhere north" is the premium for putting it together). If Vecta raises $20 million at todays stock price, this would give Vecta some 210 million shares, or
.24 cents per share. Of course, these are just illustrations of a formula that would define Vecta Energy's base value. That the combination has some operating expertise in unconventional plays and is likely to drill will certainly enhance this asset value with some success, or depress it with poor results.