hypothetical re dart

It's interesting to note that there's been little news flow
to date re Arrow's international activites...and what there has been hasn't had much impact on price.

While many sound disappointed by the $4.70 offer for Arrow's "de-risked" domestic assets, I wonder whether Arrows management might still have an ace up their sleeves.

They may realise they are fighting a losing battle with their domestic assets as they can't readily divorce themselves from Shell and don't want to alienate themselves from Petrochina. However, they would have a better iea than anyone else of the upside in Dart.
They MAY anticipate a string of value-adding Dart-related announcements between now and July which would have a positive effect under a number of scenarios:-

1. Enticing AOE holders to accept the current offer
2. Enticing another bid once Dart had been spun out
3. Making Dart an attractive stand-alone proposition and facilitating additional fund raising to provide sufficient capital to sustain it for more than just 12 months.

Pie in the sky or a reasonable punt?