T54, actually hard to find a +ve metric that reinforces good...

T54, actually hard to find a +ve metric that reinforces good value. Very ordinary deal IMO

@bevter ... classic example of trying to have it both ways ... you can't (well you specifically can) claim $820 acre when how many millions have been spent developing it. The acreage has 1P PDP of 122MBO @ Dec'15 so call it 120MBO. What are you prepared to pay for that? $12-$15 BO? If so the the acreage has $0 (assuming all that pipe, pipe, seismic, pumps etc worth $500K)

And 22 wells ... high of 1,400 bopd and 5 years later down to 50 bopd... that's a good result is it?

You said they have a plan ... looks to me like they have diverted off that plan to make an acquisition of additional acreage ....WITHOUT THE VIRGIN PRESSURE .... why do that when you were going to develop another 6 wells 2017 and so on.

Doesn't make sense IMO