Near SWN's Niobrara play in northwest CO, there is a little Australian company named Entek Energy.
Entek has 59,000 net acres just north of SWN. Entek is public, has no debt, and sits on about $8 mill in cash. SWN could greatly increase in acreage position by just buying Entek.
At current prices SWN itself is beginning to look pretty juicy as a target.