Add in float price @ 25cents 2 years back and, if a merger goes ahead, you have that as the ABSOLUTE price floor IMO. Plus more drilling since then and new targets in PEL 6 and Toenda 1, cash in the bank and in a sector that's making headlines every second day.
It is not in shareholders best interests in my view for a merger to go ahead until drilling for CSG and the conventional play has completed.
JT
