Ann: Presentation - Recommended Merger of Beach and Drillsearch, page-28

Barney, there is no doubt DLS retail shareholders are being burnt. I would love to see an independent valuation of DLS to see if BPTs offer is 'fair and reasonable'.

I mean, OSH walked away from a similarly priced offer... so did STO... so why is DLS simply throwing in the towel without even attempting to push for a higher premium.

I think the best I can hope for is as I mentioned before, a higher oil price and some exploration success, which might force BPT to raise its bid a little.