QEP, $950 million6.7 mboe/d = $142,000/mboe/d
47 mmboe net proved = $20.21/barrel
26.5k net acres = $36,000/acre
LVL’s Wolfberry has:1,200 boe/d (after royalties) x $142,000 = $170 million = $1.19/share based upon 143.5 million shares (fully diluted)
7.8 mmboe net proved = $158 million = $1.10/share
6,466 net acres = $232 million = $1.62/share
LVL's Wolfberry project alone equates to $1.10 to $1.62/share based upon QEP metrics for similar acreage! These metrics do not include Mitchell Ranch which gives Lynden an additional upside!