hold on...we pay a royalty similar to what we already do, but...

hold on...we pay a royalty similar to what we already do, but whats todays land worth?

so currently brooks has 24.4 million boe of reserves, with 20 million 2P
at current rate of 2700 boepd, thats enough for 24.4m / 2700 / 365 = about 25 years

but thats only from 34 of 174 locations identified on existing brooks land, so 140 locations currently unbooked to reserves...
a lot more reserves to come from existing leases at brooks

new land almost doubles the locations, with 150 as well targeted to key areas where existing drilling productive, and enabling longer more efficient horizontals
so lets be conservative and just book potential of another 15 million boe 2P from 21 locations to be drilled in next 3 yrs, out of the 150 locations

we received a valuation approach in last weeks presentation
from the peer comparison, the average canadian peer EV/2P= x$7

2P increase from new leases about 15 million boe, times the multiple = 15m x $7 = $105m addition to EV today

so in 3 years with 21 wells drilled and 15 million boe additional reserves, we should add $105m market cap from new land alone

then add existing brooks
then add thorsby main pool
then add nthorsby
then add montney