Massive Land Block Sold in NEBC - $77MM Lands just sold in NEBC to an un-named buyer for $77 million. These lands are not to be mistaken for any lands close to BBI, they are a couple hundred KM away. Different Montney, and likely sweet from what I can tell. This transaction does help value BBI's lands, somewhat. 13,690 Acres were sold for $77MM. That's valued at $5,600/Acre. I Currently have BBI trading at $4,000/Acre. All other things being equal this most recent deal values BBI at $0.48/share. That’s considering all things equal, which they are not. BBI is sour and second tier Montney. I would apply a 0.85x factor for these reasons when trying to come up with a reasonable valuation. That puts reasonable upside on BBI at $0.41/share. Also, to get even more comfortable with that 0.85x factor, this is one of the largest deals in the last couple of years. I do not see this as completely representative, it's likely a little rich.
Not a lot of cake left for the boys. Good luck out there.