valuations if esg achieves target reserves

What do you reckon would be an appropriate valuation if ESG achieves 1,300 PJ 2P (845 PJ to ESG)? What about if it signs more sales agreements or MOU which allow certification of more than 1,300 PJ? What if they certify 2,000 PJ 2P = 1,300 PJ to ESG?

Patersons have said in several reports that achieving the 1,300 PJ target would see a valuation around $2.30+ based on recent transactions (several of which were in NSW).

Ideas? Its worth thinking about because from waht we can see there should be a significant upgrade once sufficient data is available from the lateral and this could be as early as July.

H