On February 08 202 Sonde announced the sale of 26,240 gross underdeveloped acres in its Kaybob Duvernay play in Alberta, for aggregate proceeds of $75 million, or $ 2,858 per acre.
At present Sonde has 459,000 acres with a 76% working interest or the equivalent of 348,840 net acres.
If they could sell their 348,840 acres for the same price of $2,858 per acre as they previously did, the result would be : 348,840 acres X $ $2,858 per acre = $ 996,984,720.
Almost One Billion dollares
Sonde has 63 million outstanding shares.
$996,984,720 divided by 63,000,000 Shares = $15.83 per share in cash.
And Sonde will still hold a sizable interes and a carry-on on their properties offshore North Africa,
with production scheduled in early 2015.
That would be nice but I doubt they will get close to that for much of their acreage. They may get somewhat more for the acreage that is proving to have production but I would think 1500 per acre over all would be quite reasonable. Out of that I would like a nice special dividend of about a dollar a share.