I was listening to Prefontaine's talk at the 20/20 conference last week and he said that Illinois basin acerage was trading at $30/acre 18 months ago when they bought in and is now trading at 10 times that.. He expects this to be the hottest NEW? basin in the US next year..
Does anyone have a view on the stock currently as this acreage alone looks to be worth US$15m (50,000 x US$300/acre)if they turned around and sold it today??
It looks like one of the best risk / reward plays I have ever seen but there are a few sellers out there..
Thoughts anyone?
SXA Price at posting:
28.0¢ Sentiment: LT Buy Disclosure: Held
