Actually a pretty good offer. Hanesville is dry gas in Angelina County, so no liquid value. Most wells average 4.5 BCF in Estimated Ultimate Recovery or thereabouts. To the 8/8ths, (assuming $3 Gas which is generous because gas is sub $3 currently) that is only $13,000,000 gross per well spread out over an 18ish year lifespan. True that a unit that large would have multiple locations but the economics are not that favorable for BP so who knows if they will ever drill it out. They just bought BHP and have lots of high rate of return options to play with. Hanesville is going to be lucky to compete for capital.