http://www.businessweek.com/news/2010-03-09/shell-s-arrow-bid-may...

http://www.businessweek.com/news/2010-03-09/shell-s-arrow-bid-may-spur-coal-bed-gas-takeovers-update2-.html

Most of us long termers already know we are getting a pretty rough deal when based on previous transactions. This quoted section below from the link above shows this. Whats all Arrows infrastructure worth? Hopefully we get a more realistic proposal.

"Lower Valuation

The offer values Arrow's reserves at 88 Australian cents a gigajoule, less than the roughly A$2 a gigajoule BG paid for Queensland Gas Co. in 2008, and about A$4 a gigajoule Origin Energy Ltd. received from selling a stake in a venture to ConocoPhillips, RBS Morgans analyst Nik Burns said.

Ultimately Arrow would probably like to be bought out, but it's about achieving the best possible price, said Burns, who predicted on Feb. 12 that Shell may bid for Arrow.

Investors would get A$4.45 for each Arrow share in cash, 28 percent more than the March 5 close, plus stock in a new company made up of Arrow's international division, the company said yesterday.

The oil companies may bid as much as A$5.30 a share, said Beveridge of Bernstein.

Phil Connole, a Shell spokesman in Melbourne, Arrow spokesman Andrew Barber in Brisbane and Mao Zefeng of PetroChina in Hong Kong all declined to comment.

Shell plans an LNG project on Curtis Island off the central Queensland coast that is expected to produce as much as 16 million metric tons of LNG a year and have four processing units, the company said in a document lodged with the state government last year. Arrow has said that its added reserves may help feed Shell's LNG venture."