take over chances just increased substantially, page-9

looks like a change of control is on the way. Peter Lansom, Ahley Edgar, Paul Bilston and Gerard Ryan aren't going to sit back with a silent stake.

Ironically, the current GLL Board's strategy of sitting back with their (our) cash for the last couple of years as deals were too expensive has worked out spot on. Now that shale gas explorer valuations have come right back down and the market appetite for risk has disappeared they can do a good deal at a great price.

Especially as AGL has come out and said there'll be no movement in the Galilee Basin for at least five to seven years:

Two of the leading coal seam gas (CSG) explorers in the Galilee Basin – AGL and Comet Ridge – provided an update on their activities to landholders this month.
Speaking to an audience of 50 landholders in Barcaldine, AGL's Andrew Falkner said their Galilee Gas Project on Glenaras Station, pictured, is expected to continue on a similar, low-level basis for at least another five to seven years before any decision is made to move to development. (source: Queensland Gasfields Commission)