daytrade diaries... tuesday, page-54

For those wishing to get a cheap and under radar Coal Seam Gas play, try MEL, but hold it.

Based on all the take over activity within the CSG sector, plus MEL's 3P reserves

http://imagesignal.comsec.com.au/asxdata/20081211/pdf/00912726.pdf

go to slide 22 & 23, plainly shows the huge upside for those happy to hold.

based on the lowest offer of 30 cents per GJ, the take over price would be $480 million or $3.60 odd per share.