Yes HKP, to which I would add that what value the market ascribes to 2P will also depend on whether the 2P is developed or not (same goes for a suitor who we would expect to pay more than the market ascribes, of course).
pj
(And by "developed" I mean ready for, or already in, production. For half developed, something in between again etc)
CNE, page-27
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