Money for Nothing & Montana is Free We are all in Dire Straights if Crescent Point prevails with this ridiculously low offer.
A year ago Williams Co bought 86,000 acres of Bakken land in N Dakota for $925,000,000 That's about $11,000 per acre
A little research will reveal that Fort Belking in Montana is considered ground zero for prospective Bakken oil in western Montana. And that is where we bought 100,000 acres last year from a comnpany in receivership for next to nothing.
Let's just suppose that our lands prove up with drilling but are only one-tenth as priolific as North Dakota. That puts a value on Reliable's Montana lands greater than the entire $100 million that CPG is offering us.
As a Canadian I hate to see us sell out to the US, but we are getting seriously shafted here. I sure hope that this transaction attracts the attention of American players like Continental Oil