Farmout metrics?, page-51

sigh. Sometimes I try to look back and see where I went wrong.
BRU has made some progress since I posted this back in late 2015, however, BRU is now valued, acreage wise at just $17 per acre for the net acreage of the Laural BCGA. That excludes the $19m in cash, the reserves at Ungani (and Ungani FW/Anderson, not that we know how much they hold yet). So if you value the Ungani 2P at $15 per barrel, + the cash, minus the debt, that covers $52m, or... for just $4m you are buying BRUs net holdings in the Laurel play.

A far cry from the highs I know.

Just to put a little perspective, up in Alaska, the likes of 88E are being valued at upto $1500 per acre, versus BRUs $17, or, really perhaps $0.20-0.50 cents). Yet BRU have already booked multiple TCF plus liquids in contingent resources. Stimulated 3 wells. etc etc.

88E May 2017 Broker report

I wish the 88E holders all the best btw, just not my cup of tea, as they are a shale play, whilst we are tight gas. I hold, but never could I have dreamed that we would be where we are now. bugger.