It's time we start differentiating between wishful thinking and...

It's time we start differentiating between wishful thinking and fact. To go as far back as Pure Energy and start making comparisons makes no sense at all. In fact Santos's move on ESG is the closest comparison and there was no bidding war and no great premium in price. The landscape has changed and a you simply can't ignore the fact that the stock hasn't traded above the offer price today which suggests the "market" doesn't think there will a substantially improved offer or a third party bidding war.
As has often been expressed on this site it's only 2P or better that attracts serious dollars from big players. Arrows offer is strategic - they know the acreage and is adjacent to their own holding and they know BOW inside out. If I was to hazard a guess there may be a bit of a sweetener up to $1.70 to $1.80 range but unless there is a bidding war (which is hard to see at this stage) then that's probably where it will all end. DYOR