Hey JonathanI was actually about to buy SGL yesterday morning...

Hey Jonathan

I was actually about to buy SGL yesterday morning when they went into a halt at like 9.55am.

To be honest, I cant believe the offer would be 40cents.

Yeah its a 40% premium to the 27.5c close on monday.

Personally I would pay 40 cents myself and probably will be buying at this price anyway.

SGL could put on 40% in a day....then do it again for 10 days running if they prove the reserves they have around the camden area.

This area has amazing coal reserves and thus gas.

AGL is being beyond opportunistic.

I am a bit stunned. It will be interesting to see what the company says this morning...whether they support it or not but seriously....SGL could do a whole lot better.

There are not a lot of coal seam players in the NSW area.

If SGL prove their resources...yep..I reckon you are right...probably way above $2 or more down the track and it couldn't take that long.

Who else would be in a position to make an offer for SGL and is there any chance of that?

I'd buy at 40cents if there was a chance of a counter offer.