Devon energy is going to announce sometime soon the results of their drilling in cline shale formation in west texas.
It would seem that any companies with leases near devon energy’s drilling areas will find that the value of their leases would go geometrically.
I did a quick survey of companies with leases near Devon Energies drilling and found one: Lynden Energy Corp. (LVL.V).
Do you see the same thing? Can you suggest others?
Typically, such announcements are made, to drive up their stock price, or to secure additional financing, or both. There really is nothing else accomplished by the public announcement, especially in trying to pump up enthusiasm about it before announced. My suggestion is to ignore the adjectives used and only look at numbers versus other plays.
Cline Shale could be the next oil play
http://www.bizjournals.com/dallas/blog/2013/03/cline-shale-shale-could-be-the-next.html
Mar 13, 2013
I did a quick survey of companies with leases near Devon Energies drilling and found one: Lynden Energy Corp. (LVL.V).
I don't know how you do that with any reliability. I know the required public announcement for our lease doesn't mention the company, only that a lease exists for the property.