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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.

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