Why so cheap?

Why are we so cheap.? Armour has one of the largest land banks of a listed E&P. explorer in Australia. We have approx 30 million acres in the NT Basin. We are trading at $.19c and takeover offer of $.20c Statoil and Santos have acquired exposure in the McArthur Basin since Armours IPO.
In 2012 Santos paid $15/acre to farm into McArthur Basin acreage held by unlisted Tamboran Resources. The agreed price exceeded the $11/acre Santos paid in 2012.
Santos has recently completed shooting a 500km 3D-seismic program as part of
its Phase-1 farm in commitment with unlisted Tamboran Resources. The comments that followed were technically the McArthur Basin is very exciting. Santos recently stated at its December 2013 Investor Briefing that “we arrived at the McArthur after a systemic evaluation of all onshore basins in the country looking for unconventional plays and the McArthur rocks looked the best” further adding that the McArthur “rocks appear to have the attributes that are required to deliver a real outcome of scale". I would say that with the directors saying yes a vote simply puts the for sale sign out the front. The next 2 weeks will be very interesting.
I think there is more to this then a simple surrender when your the last house standing in the way of development, you don't accept the cheapest price. Neighbours of Armour wouldn't let someone in at $2 per acre thats just the NT asset. When they have paid $15 per acre. Even if you said <50% discount to $7 an acre.