what do u think is a sensible offer? the only reason its locked is because i thought i lost it so reported it lost and got a new one from my insurance. then when moving house i found it again.
If you have reported it lost or stolen, O2 wont have locked it, they would have blocked the IMEI, which is a irreversible legally. You can change the IMEI but this is highly illegal. Also Should you not inform the network provider & insurance company that you've found it, otherwise this could be classed as Fraud.