I think even that is a little high given the infrastructure but...

I think even that is a little high given the infrastructure but it's closer to the mark. If you look at comparable acquisitions of similar ground *once it has been proved* you can certainly arrive at that figure.

It doesn't have an asset worth that much yet. Currently Derby is worth $4m and OBL's share is worth $2m based on the last bit of corporate activity. And also lets not pretend OBL will have a meaningful stake in the final ground should it be commercial. They'll probably be 25% with a drill in the ground, bought out or farmed down to 7-12.5% for any first round of capex and then whatever else before the first mcf of gas is sold. All while drilling through Derby's town aquifer and however many more rounds of dilution.

But even with all that, if it's commercial and OBL hang on and it's developed yes, it's worth many times it's current market cap. I've said in the past it could be a ~30c share in a best case future scenario based on the Laurel gas. I've been here talking up Derby for years. I just see no value in pretending it's worth more than it is on spurious comparisons, that it's got more gas than it has or will do things it's not going to do.
It's not so much the market that has to catch up as it is explorers have to catch up proving their ground.