GD,
Good question that "too good to refuse SP".
I prescribe a value of $0 to Pathfinder acreage at present oil price and up to $70.Might be harsh but might not....
KY & MS would be valued at Reserves only I think low multiple of say $12/Bbl
How much of Birch is held? Three Quarters??? Maybe 1,100 acres?? What would you pay for that? LNR paid ~$2,404 per net acre for some Eastern EFS land back in mid 2014. Is it comparable dirt - probably not as most likely undeveloped. So double it (maybe). Call it $5M.
Compelling maybe 5/8ths of 2.4cps = 1.5cps?
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GD, Good question that "too good to refuse SP". I prescribe a...
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