takeover offer, page-8

Sounds more like an amalgamation rather than a takeover. IMO take the 42.5c on offer today and run. Read this...

http://www.sydneygas.com/who_we_are.html

AGL joint venture

During 2005 Sydney Gas entered into a joint venture with AGL, Australia’s largest gas and electricity retailer with the country’s largest contract gas portfolio, to further develop the states’ coal seam natural gas. AGL’s position as Australia’s leading integrated energy company was the perfect complement to the exploration focus of Sydney Gas. AGL operates the Camden production plant and supports Sydney Gas’ exploration of the Hunter.

Hunter gas project

Sydney Gas and AGL embarked on the Hunter Gas Project to explore the coal seam natural gas potential of the area. The significant coal resources in the Hunter combined with the ideal location for delivery to the major markets of Sydney, Newcastle and Wollongong, makes it an exciting exploration venture.