You have to downplay SP expectations. The market is never going to place this at more than a $2B market cap with a discovery. And nobody, until they drill appraisals and other wells, will pay over $1B. Reason? You don't pay $1B unless you know you'll make way more than that back. You pay $1B because your financial metrics show you'll bring in revenue of $3B on costs of $2B ($1B for purchase, $1B for drilling).
There is going to be a large discount in purchase price because HDY doesn't have much negotiating power. That can't say "well, we dont' like your offer so we'll drill it our self."
News 
Market Data 
Discover 
