TGN, despite those differences, this is still an applicable tool...

TGN, despite those differences, this is still an applicable tool for valuation analysis. Just because no private market value is established for mineral rights in the UK, doesn't mean that we can't use figures from the US to get a rough estimate for concession valuations. At the end of the day, it doesn't matter whether you are looking at numbers from a value/acre, value/ogip, value/recoverable reserves - all that matters is how much free cash the claim can generate. The value per acre measure is just an expression of someone's guess as to how much free cash the claim can make - and that is certainly appropriate in the UK.

So, Darwin's point is that because of advances in technology, some claims are becoming more valuable. There's a monstrous gap between market rates for gas acreage in the US and those in the UK which means we have outstanding upside if our claim generates free cashflow.