You is misnamed wisedog,
You is wizard.
Just da way I see dat!
HardRock
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Below are some interesting facts from Cannacord Morning Coffee report dated Aug 18 re Southern Alberta land sales -

Over $230 million has been spent on Land Sales in Southern Alberta from April 2010; Average price -$2,004/ha
maximum price - over $8,200/ha. ii) To-date over 60 wells are in the process of been tested, completed and/or drilled. Currently, 44 Industry participants in the region - 34 Canadian and 10 U.S.; iii) Fairway estimated at 175 miles, north-south and 60 miles east-west; iv) Approximately $500 million has been spent to date on land JV's, exploration and drilling.
http://www.redwood-capital.com/documents/ACG-2011-05-13-Maypresentation.pdf
Looking at the above presentation you can see ACG hold a huge amount of land. 
With a market cap of just over $30m undiluted, and plenty of cash in the bank, it is clear the market isnot giving ACG alot of value for their vast land holdings ... with two wells targetting the Nordegg and Montney zones very soon, I expect the stock to continue to firm into the drilling program and offer huge potential upside upon drilling success ...  
DYOR, personal views only - good luck to all !!