I don't think they'll raise the offer, this has been good enough...

I don't think they'll raise the offer, this has been good enough promotion for them better then anyone. If the takeover goes ahead (highly unlikely) then they would have picked up the company at a bargain basement price.

However if the takeover doesn;t succeed, well they've had enormous publicity and now expert reports explaining the potential of this company, which they own 33% of.

We have to remember that these estimates has only taken into account what is flowing, with Rancho we will most probably see a re-rating and reserve upgrade. And how I read it, if this happens they're best 'estimate' and best result will increase.