RE: RE: For EGIf you red the latest NR:
"...The majority of the Company's acreage is currently under lease tooperators drilling in the Blackfeet Reserve, the leases reserve infavor of Frontier gross overriding royalties ranging from 12.50% to18%. The operator's leases expire at various times over the period 2012to 2016, to continue a lease beyond the expiry period the operator isrequired to establish production from the lease. Frontier's fee landsdo not expire..."
I think the hope at IFR is to have some of the lease agreements expire based on lack of established production (condition for land lease) and land to revert back to full IFR control. This would also explain somewhat why IFR was able to aquire the land at what seems to be below market price. Owners might have wanted to unload the land that was not going to provide cash flow from production due to lack of wells being drilled. Our net acrage could increase without doing anything as the leases expire over the next little while :)