private offering of senior notes (aut), page-35

EKA is currently trading on a EV/Acre of $38k vs AUT of $77k. EV is just Market Cap plus net debt. Half as cheap as AUT on this metric.
It is trading on a EV/Reserves (much more important than EV/Acre) of $7.38 vs AUT of $15.83. Again half as cheap as AUT.
This is only takes into account EKA's 1521 acres in the Sugarloaf AMI (among the best shale acreage in North America along with the Bakken and just south west of where BHP spent $$$billions buying Petrohawk) where it has a 6.25% interest (AUT has a 15.8% interest in the Sugarloaf AMI).
EKA also has 5000 acres in nearby areas which you are essentially getting for free.
Very cheap any way you look at it.