I haven't seen this come up, but they could be trying to replace assets they are about to lose. Either way, I'm in at 2M for the long haul. Also, we'll see what happens to those "longs" if this thing goes up. If everyone heads for the door, the share price won't hold up long.
I don't my any means think the land is contaminated or worthless. I believe they probably paid a pretty penny in preferred shares and cash for it.
I was merely making the point that a $1 billion dollar "asset" could *actually* be worth a negative amount of money.
And like the next poster said, i have considered that they might be buying this just in case the Murphy pit gets taken away. From what i know, PBLS has a strong case and they're not likely to lose the lawsuit; hell they might win a large payout on the business imparment counter claim. In which case, they're simply building their S&G business.
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