red baron. its 0.95 mcf (not bcf). PJ is the bcf equivalent.
its overly simplistic to take multiples paid for 1, 2 or 3P reserves because unless you have a look-in into the actual data rooms surrounding hydrocarbon assets (including all seismic data, etc), you can't know the real potential upside to an hydrocarbon asset.
that said, you also can't compare an implied valuation of gas in oz to gas in the rockies. the whole play here is taking advantage of the LNG artitrage (current spot ~$17/mcf), while there won't be an LNG arbitrage direct in the rockies (but there may be a knock-on effect from LNG coming in on the east coast, therefore arranging the whole US gas market to be more reflective to global LNG prices....but at a slight discount because the US is seen as the market of 'last resort' for spot loads).
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