Mornings news...[Dow Jones] Sydney Gas (SGL.AU) extends...

Mornings news...

[Dow Jones] Sydney Gas (SGL.AU) extends recovery, rising 6.1% to 52 cents on
healthy trading of 2.0 million shares. SGL slumped to 40 cents Friday from 67 cents
Wednesday on media-fueled concerns about legal action, community opposition to flagship
coal seam methane project, cash burn. Acting CEO Andrew Purcell assuaged some of these
concerns in briefing yesterday: says expects project to be cash flow positive by
end-July; plays down what he believes to be minor legal actions; project's
development drilling campaign on track. Still, SGL recovers only some of losses, might
need string of strong announcements to regain all lost ground. (RCB)