BG Group has reported its takeover for methane-rich Aussie outfit Pure Energy Resources Ltd. is the last standing, after a bit of bidding war with local rival Arrow Energy Ltd., a company that offered a floating liquefied natural gas development plan to develop coal-bed resources as LNG.

The British Gas Group offered shareholders until 23 March 2009 to accept a new offer for all Pure's shares. Arrow's A$675-million (US$445 million) offer reportedly expired on 13 March 2009.

BG Group already owns 36 percent of Pure shares. Shareholder Royal Dutch Shell, with 11 percent of Pure, has said it will accept the BG offer without a better one.

Pure's directors have recommended that shareholders accept BG's offer and have advised that Pure's share price is likely to fall if BG Group's Offer is not successful.

Arrow, Shell and BG Group have, along with other players in the region, vied to gain the right company and resources mix to export LNG from Queensland Australia. Coal-bed or coal-seam methane specialist Arrow has aired plans for floating LNG with a Norwegian partner at a time when oil-company majors have largely contented themselves with quietly buying up concessions as far afield as Sweden.

Tags: Arrow Energy Ltd, BG Group, Pure Energy Resources, Shell