blue sky valuation

SSN currently trading at $440mil fully diluted. It would appear the market values their Niobrara acreage at a minimum of $22,000 an acre. If ELK where to do a deal on the co2 flood that included cash as Evolution did they may choose to drill it themselves, which would put a punter value on it of roughly 50cps based on the SSN shareprice...

The market currently values SSN's Niobrara acreage at approx 7X the price that their Niobrara sale transaction valued it at. As an example if ELK did a JV with a large co2 company on Grieve that valued Elks share at $100mil what premium would those same punters add to Grieves market cap??? 7X would be around $6ps, crazy valuation but the way they are pushing up other companys above the clouds who knows where it could end!!!
Cheers