NBL is such an obvious target that I'm guessing investment bankers representing "big oil" are knocking on the doors every day! Some sort of stock swap to defer capital gains tax seems more attractive than cash.
However, if I were the company, unless the premium were HUGE, I would probably wait until I had a better handle on the Israel and Cyprus reserves.
My_dime...I think you "GET IT". Big, Big oil is represented by major investment banking, and controlling interest of some governments. Two things you bring up are good points. Always take the stock swap vs. capital gains, and the extent of the asset reserves need further evaluation before a takeover. This recent split is a puzzle to me.....my wild guess it will take a variety of players with cold hard cash now to exploit the fields into near years actual production. I believe NBL will make a joint deal with some cash and stock exchange in the mix from another big oil player. I think the LNG angle of expertise is their partner. Multiple LNG import terminal's span the entire EU with more being built. Russia (Gazprom) made a deal with Israel for LNG from their fields.