Also warm of the presses as it was announced a month ago, and it...

Also warm of the presses as it was announced a month ago, and it is in the EFS was a filing to SEC by Lonestar (which I hold) that had some audited info about their latest acquisition.

So the Halcon sale values SSN at 1,000 boepd at $48.75M

Lonestar purchase consisted of a producing property and an undeveloped property. The producing prop:

1P PDP = 6,276 MBOE of which 4,557MBO
1P PUD = 1,531 MBOE of which 1,181 MBO

Puts the mix as 74.1% PDP and 25.9% PUD

Audited as
$35.1M for PDP
$15.0M for PUD
$1.9M for ARO

On that basis, and on oil as the only value its $10.40 BO for PDP and $12.70 PUD for a blended $11/BO 1P

The trick is to make the right adjustment for the location advantage of EFS and the much higher PDP ratio. What I mean by that is $11 x 8,707MBO 1P for SSN = $95,777 wont translate. SSN PDP is 37.9% and the big unknown (to shareholders) is the amount of capital needed to develop PUD.

But you could say it might be between 60% - 70% (guess) of the $11 number. That would put it at $62.25M

Averaging ($62.25M + $48.75M) yields $55.5M less $24M owed leaving $28.5M ... I'd be happy with that.