...lets see if I got this straight...FNC delivers it's 50% ownership of Magpie to a newly created private company...Sheridan Group also delivers their 50% to the new Magpie.....this new Magpie delivers 27million shares(aprox) to FNC & Sheridan each....okay so we still OWN the same percentage don't we....I mean we now own 50% of a private company that owns the Magpie claims...this new company will then go public.....okaaay.....what's really going on here? Are the claims that valuable that they have to be separated from FNC?....much like Windfall is expected to be separated from NOT's Mcfauld play...so some bully major doesn't get all the eggs that were kept in one basket...that makes sense to me....then these claims MUST be worth more than $15000.  I haven't done my DD on them yet so I'm not in a position to say....What I am wondering about ....is FNC preparing for a JV?....as one poster suggested here.....why dish out Magpie then? it wouldn't be involved anyway....if it was a take-over situation then this move re Magpie makes some sense....trying to figure it out...sambone