Ann: Intention to make a takeover bid by Magnum Hunter, page-28

All good points gentlemen. I very much agree with mOngy, DLS have shown they can ferret out good value in what is left in the Cooper Basin. Either way they come out of this with a good asset addition, or a small amount of cash and the market knows that PEL 101 and PEL 182 are worth much much more than what they paid when they bought ACER.

Barney, while agree that DLS has not received a T/O offer yet, it was not long ago that they rushed through a number of deals with Santos... which IMHO, was to fend off a T/O offer from Beach. The list of qualities you mention about DLS are exactly the reason that it is a target. Of course, only time will tell.

Looking forward to hearing that Flax is being brought into production.