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Thursday, December 13, 2012

Encana Announces Duvernay Joint Venture

PetroChina paying $9,800 per acre for liquids rich gas acreage.

http://www.encana.com/news-stories/news-releases/details.html?release=726812

Petrobakken has 131 sections in the Duvernay oil window.  That is 84,000 acres.

84,000 x $9,800 = $820 million

That is over $4 per share for an asset the market doesn't even know Petrobakken has.  That assumes that oil  property is of equal value to the liquids rich gas property.
Posted by Devon Shire at 12:39 PM

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