Hi SMDPatersons Australian CSM Review supports your last point....

Hi SMD

Patersons Australian CSM Review supports your last point. They highlight that investors need to look at CSM companies that can book excess "proved and probable" reserves (over and above current contractual Gas Sales Agreements). SGL is one such company with tremdous upside that will profit from rising gas prices that are expected to occur in 2009/10.

Also have a look at the SGL investors presentation on the SGL website to see their reserves etc.