if pure energy got taken over at 8.25 what, page-2

PES was taken out for A$0.41 per GJ of 3P reserves

Arrows NET 3P reserves are 4,791 PJ

If you based a T/O off $0.41 per GJ they would have to pay 2 billion atleast for Net reserves.

Then you have to take into consideration Arrow are cash flow positive..have infrastructure in place and have LOTS of international exposure.

Not to mention the fact that they have 650 million cash still at bank.

With a current market cap of around 2.6 billion she is still cheap. One other point to note..

"More than 90% of Arrow's acreage is still to be certified meaning exceptional upside potential exists from exisitng projects as well as new areas."

Im happy to hold longterm on the parcel that I currently have.