i think the best guide at the moment is the Vermillion-Leucrotta transaction in May 22
https://www.vermilionenergy.com/news/news.cfm?newsReleaseAction=view&releaseId=269
1 Vermillion paid c$477m for a 20-50k boepd project
2 then JV-ed the remaining lands to produce another c$400m company called coelacanth
ce1 is a 20-50k boepd project, and a JV and list on tsx could generate as much or more than any initial farm-in $ payment
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i think the best guide at the moment is the Vermillion-Leucrotta...
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