Ademant? I'd say especially if Shell is doing a Woodside model. If one thinks a bit what better way to leverage in for 30% share of EA and all of the prospects at a very fair price? That would drive Phil nuts. Say 30% for $100-$120/share and if all works according to plan, everyone wins. If all those prospects pan out, Shell goes breakneck on 238 and 236 and PRE goes nuts in 237. PRE wins also in this as they get a SM partner through IOC. Shell gets the local label through IOC. But it would drive Phil nuts and I couldn't blame him. But he wins too if all he's worked for proves out. Think about it.
Plus nothing prevents a bidding war once such a deal is announced.