sc55 farmout flyer, page-23

Moppo

I'm not thinking that far ahead.

If I understand Strachan correctly.. (not a subscriber, this is a freebie)

For SC55
Discovered Undeveloped 2P Reserves NPV
Gas $1/Gj
Oil $15/brl

http://www.antaresenergy.com/wp-content/uploads/2013/07/2013-07-10-Stock-Analysis-Antares-Builds-Value.pdf

So add your own inputs wrt %'s post any farmout.

I'm more interested in where the sp would be pre the first drill, since that's where I would lock in profits.
Low to mid teens is my guess. It depends on the quality of any farmout deal, and general market conditions.