1. As per comments above I state ev/2p is one way to look at it...

1. As per comments above I state ev/2p is one way to look at it and assumptions provided. You can cut valuation however u want. If you want forecasted production multiples based on pj them look at Petra notes . You will get valuation around 38c. Each to their own ev/2p is a crude metric for me is a yard stick you can choose whatever u like. You could argue east coast gas multiples should be higher the west coast …

2. yes change of control was a stated option for both that that had data rooms , I gave u two bth and lpi two recent ones. No point harping on about this if u think it’s unique then great end of day that’s the outcome I am hoping transpires

3. don’t understand what your referring to by leverage to price. As stated above I think low bid and yes if there is competitive tension then the last bid is all that counts where that ends depends on the buyers and how motivated they wre