Hi Art,

"Perhaps after some more drill results and a higher share price there would be an opportunity for something at a little better ratio."

Just to be the devil's advocate here... waiting also poses a risk... on mediocre SGX results and good KXL results the ratio could go the other way... ratio of SGX to KXL has been 10-1 for a very long time... I think the market has established the relative values...

IMO the main point of such a merger would be to create a larger and stronger company that could more easily and realistically advance these projects as fast as possible...that's what would create shareholder value here... not holding on and delaying the process hoping your company will be the one who might 'hit it big'...in the meantime issuing 100's of millions in cheap paper artifically placing a cap on your own share price... that keeps your company 'indendent' but IMO is not sustainable long-term... as we see here...

it's time for BG area companies to combine and move on... get this area into production or at least make it attractive to a major to acquire... that's what would be best for shareholders... mgmt of existing companies who would likely be pushed out might not like it but shareholders would...

red911