Member Info for RichGreenwood

I noticed that the London exchange had this bid for 10MM shares reported at the close of the market. Not certain of how accurate the reporting is or what the 0 ask means.

Bid 16.60 x 10000000
Ask 0.00 x 2500000

Given the level of activity and the data from the wells so far (including Origin's discovery well), the stock seems pretty cheap based on a dollar per acre metric. FOG has an enterprise value (about $6 million cash on hand, no debt) of USD $235 MM with 1.4 MM acres in the Beetaloo, which is USD $168 per acre. It is contiguous, which is a big plus for development, but it is a non-op interest. In other resource plays, especially shale plays in the U.S., many times the price of oil and gas leases exceed $5,000 to $20,000 per acre when when a resource starts being proven.