A positive view on DLS...., page-9

Locshare11

Appreciate you posting the article but think you have cherry picked it to support an argument.

Brad Lingo was the best thing to happen to DLS and his departure hurt. Furthermore, the manner in which he left may have or may not have been harmonious because we do not have any insight or lucidity about what happened. I consider this bad form on DLS's part. Moreover, if there was any dissonance Brad is being the quintessential professional and not causing any disharmony within DLS. All to often these things rear their ugly head and the only people who suffer are the shareholders and we can be thankful for that. However, life marches on. With that said there may well have been a parting of ideas and it is quite possible it was time for DLS to move in a different direction and Brad himself may have felt the same. He is a company builder and he achieved that with DLS and now he aims to do the same with ELK. ELK are fortunate to have someone of his calibre.

Having said all that the article as posted looks like a sales pitch, which is fair enough, but it says so much more than what you point out.

"EOR has been used on Barrow Island, Western Australia, for some time … and that’s about it.
Santos has recognised the opportunity in its Cooper-Eromanga Basin fields, but it never had the corporate drive and attention to make it a priority.
“If you called up (Santos managing director) David Knox and asked him what his top five priorities were, even in the Cooper, it wouldn’t be a priority, and if you don’t make it a priority you don’t invest in the people or spend the money to do something that is profitable at low oil prices,” Lingo said.
He wants Elk to change that."

As Spec pointed out STO appears to be committed to the CB which seems to contradict your notion that somehow STO have turned their back on the CB by looking elsewhere to develop. The problem with articles like this is that it only captures a moment or thought in time which may have true at the time of writing but, in essence, is old news already. Brad wants ELK to succeed and probably still wants DLS to succeed. He certainly would wish us well. In his last quote of the paragraph he says, "He wants ELK to change that", and there's the rub he would like to get into bed with STO and in doing so create the win win for both companies.

We don't know the time frame of Brad's experiences, and what he has said in the article may be correct, what we do know is that STO can always change their priorities and with Brad Lingo driving the ELK ship and his familiarity of the CB, and indeed STO, it's not like he is a new kid on the block, or the basin for that matter, and will have already forged strong business ties and relationships with the likes STO and David Knox. His vision for ELK and his ability to build stuff may be exactly what the CB (STO) and DLS need and once again his drive and influence may well be a good thing for us shareholders.

I wish Brad every success in his new role at ELK.

Cheers
BW
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