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Strategies & Market Trends : Value Investing

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To: Jim P. who wrote (40019)	11/15/2010 12:06:13 PM
From: E_K_S	Read Replies (1) of 78704

Hi Jim - I wonder if WPZ will be involved w/ this investment. WMB may structure the deal where WPZ develops and operates the gathering & processing side. Williams Buys $925 Million Stake in Bakken Oil Play noir.bloomberg.com From the article:"...The property has potential reserves equivalent to 185 million barrels of oil in the Middle Bakken and the Upper Three Forks formations, Williams said in a statement today. The property has 24 existing wells producing 3,300 barrels of oil a day, the company said. “They are getting production with the acres, so it’s actually a better deal than it looks on a per-acre basis,” said Lasan Johong, a New York-based analyst for RBC Capital Markets who rates the shares “sector perform” and owns none. “It’s in the core of the Bakken.” <snip> "...RBC calculates Williams is paying about $8,000 a net acre when production is included, less than Enerplus Resources Fund agreed to pay in September for leases in the same area, he said...." =================================================================== The adjusted price paid per acre turns out to be a potential "Value" price. EKS

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