Tuesday, December 11, 2012
Wow! Lynden Energy signs agreement to sell 630 net acres for $25 milllion
Lynden Energy Corp. entered into an agreement to sell 630 net acres for $25 million to BreitBurn Energy Partners today. This equates to $40,000/acre!!! Given that 630 net acres is less than 10% of Lynden's Wolfberry project holdings, this is a tremendous deal for Lynden and validates the acreage valuations that have been used in previous posts. More to come later.
Posted by GF at 4:09 PM