from the Forest web site...their NR
Forest plans to drill three horizontal wells in 2008 to refine its drilling and completion techniques. Based on technical data and the vertical pilot well program, the preliminary net resource potential on Forest's acreage is estimated to be approximately 4 Tcfe. First production is expected in 2009 with the potential for a full scale drilling program in 2010 and beyond.
Ark-La-Tex Acquisition
Forest has entered into a definitive agreement with a private entity to acquire producing assets including approximately 69,000 gross acres (47,000 net acres) primarily in its core Ark-La-Tex area. Forest attributes estimated proved reserves of 110 Bcfe (45% proved developed) to the properties which produced an average of approximately 13 MMcfe/d in 2007. Forest has identified more than 500 additional vertical and horizontal drilling locations on the properties included in the acquisition primarily in the Cotton Valley and Travis Peak intervals. Forest will pay approximately $285 million cash for the assets, subject to customary adjustments tied to an economic effective date of March 1, 2008, and intends to fund the acquisition using its credit facility and cash on hand.
can't clearly identify how forest and junex really fit....looks like its junex land....and a farmout to forest.....the $13M..and forest went from $52 on 4/1 to $57 today.....
