Ann: DLS: Notice of Variation - Extension of Offer Period, page-27

Good call there invertedva.

Presumably the directors will still deem the DLS proposal superior and sell into it after 14 days unless there is a major increase in the MHR offer.

Current MHR offer is 31.2 cents vs DLS offer of 34.0 cents. MHR trading at an 8 month low.

My feeling is that the directors do not want MHR script even if the premium over DLS is significant. This is demonstrated by the fact that MHR bid was previously about 4 cents higher and the directors still went with DLS.

So I guess it hinges on whether Magnum Hunter can get $55 Million cash from its financiers.

For the record I'm not too concerned either way although I trust DLS management are doing the best by shareholders.