Ultra Petroleum (UPL) Message Board

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Gold/Mining/Energy : Ultra Petroleum (UPL)

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To: Little Joe who wrote (4205)	7/31/1999 12:12:00 PM
From: dgz	of 4851

I called the company a while back and asked them when the first wells they drilled were going to be paid out - they couldn't tell me - not because they didn't want to but because they didn't have accurate records and they were trying to interpret the deals that were made and that the other companies disagreed with their accounting. As for the pitance, they got 13 million for x number of acres which I hear worked out to 800/acre. Apparently, Amoco had just before that paid about $3000 or $4000/acre for land in the same or nearby area. Then recently, I heard of another deal where someone paid $30000/acre but I don't remember the companies involved.

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