Norwest Energy (ASX:NWE) sees strong gas flows from Lockyer Deep-1 testing, page-52

I had a quick look. They metaphorically stole it. 1,000 pj (3P) (thats a bit more than 1 TCF) went for $450M - but they picked up $100M in cash, and the thing was operating. So really $350M. Thats 1/3rd of the rule of thumb $1B/TCF. But this thing was already earning money, so you would peg it at something between $2-$3B per TCF - so the purchase price (t/o offer) was anywhere between 10% to 18% of the real value and no one batted an eyelid.

For those wishing for a takeover, thats what you get. Its like your house is worth $500K and someone comes along and offers $100K. Then 1 out of 5 householders says its a good deal. A bit of smoke and mirrors , then suddenly another householder sides with the first one, and before you know it we're into compulsory acquisition territory.