Diamondback Energy purchased 12,500 net acres in Midland County for $440 million (click here). This equals $35,200/acre.
Applying these metrics to Lynden Energy Corp.'s Wolfberry project translate to $228 million (6,482 net acres x $35,200/acre).
Conservatively, Lynden's Mitchell Ranch could be valued at $68 million (34,150 net acres x $2,000/acre).
With 145 million shares, LVL could be valued over $2.00/acre using the above metrics!