As for the rebound, perhaps it is the end of the AQO selling, or simply that DLS is cheap compared its peers and with so much exploration and development going on this year, its a good time to enter. Could just be the fact that DLS has had another exploration success in PEL 91? Flax about to start production?
The Burners-1 result is excellent. Even though for now the flow rate from McKinlay member is low, we have yet to hear of the rate from the Namur Sandstone. I am hopefully that they may even drill straight away on the discovery to test its extent, as they may have only partially hit the pay..? I am just guessing for now. Whatever the case, that's 3 exploration wells and 3 new fields. Even if the field only holds a couple of hundred thousands barrels recoverable, its further enhanced the area for the next target/s.
DLS Price at posting:
$1.49 Sentiment: Buy Disclosure: Held