RE: RE: RE: Lots of News!! Certainly not the best deal for BWD shareholders. Unless I'm reading it wrong LEG pretty much sold back the land it farmed in on plus the little land picked up after the first well was drilled for $3,000/acre. Pretty good premium considering what land sales have been going for plus the fact that BWD shareholders paid for the same property twice. Goes to show what things are worth when you are over a barrel. I would suspect that LEG would have taken the whole company if they had a stronger shareprice but with them trading in the $7's i suspect that this was the only option they even considered. I do know former Mission guys and Trent has done this in the past to acquire cheaper acreage. In the long run we have twice the share count, 30% more land, lousy production, A+ management team, and access to capital.
I wish that there was some discussion as to a drilling commitment, I certainly home that the count of the number of wells drilled will increase substantially.