This concludes a seven-month search for a suitable business partner to take SDS to the next stage of its development.

Meanwhile hostile takeover attempts are still catching attention.

Coal seam methane player Sydney Gas was boosted by expectations it would put together a refinancing package for $A30 million worth of convertible notes due in two tranches – April and June. SGL closed yesterday at 37c, up 7.2% for the week and 5.7% for the month.

But after the package was actually announced this morning, SGL fell half a cent in morning trading.

The convertible notes were integral to the takeover attempt by rival CSM firm Queensland Gas. QGC closed at 78c yesterday, up 2% for the week but down 4.9% for the month. But it dropped a cent in morning trading today.

Meanwhile, another takeover target, offshore explorer Nexus Energy, closed at 74c yesterday. Nexus was up 3.5% for the week and 42.3% for the month.

Its predator, Anzon Australia, closed at $1.29 yesterday, up 0.4% for the week and for the month. Anzon lifted in morning trading today to reach $1.31.

In both cases, the companies attempting these hostile takeovers are offering one of their shares for two of the target company’s shares. A QGC share is still worth more than twice as much as an SGL share, but it would take a substantial fall in the Nexus share price for the Anzon offer to look tempting to shareholders.