Ann: Presentation - Recommended Merger of Beach and Drillsearch, page-4

Ho hum. I guess I should be happy I finally got a call right. A shame its taken 18 months to actually occur. ha.

The deal is not an exciting one nor is it really reflecting the premium that DLS deserves versus BPT. That being said if Seven Group, and the other big instos have decided they like it, the reality is game over unless.... there is an outside bidder (most likely Chinese or North American).

It will be interesting to see how the market views the deal (I will be ignoring any Seven Group media reports!)