While the discussion is on Sage and Kodiak, take a look at ATV which is securing more land positions. Recall it took 20 ATV shares or more to buy 1 KXL Share. The ratio is now less than 4:1 with KXL at .245 and ATV at .065. ATV Management have done a good job with joint ventures. At the worst of the 2008 debacle; ATV was low as .015 while KXL low at the time was at .495 which looks good today. For share appreciation from the bottom like ATV did... KXL should be over 2.15 now..

BCG