Canadian Spirit Resources Inc. increases Montney acreage at Farrell Creek

Canadian Spirit Resources Inc. (SPI) announced today that they have acquired additional Montney lands adjacent to their existing lands at Farrell Creek. This acquisition increases their net land position to over 34 net sections. Using the recent Sasol/Talisman valuation metrics from their Farrell Creek deal as calculated by Byron Securities on SPI's land results in a potential per share value of $9.40/share. (22,000 acres x $31,000/acre + $21.1 M cash)/74.9 million shares = $9.40/share.