Congrats on the entry saracen, wish I could have entered at current prices.
Totally agree about the hedging, that means approx 40% of production is now hedged until July next year. Great to see DLS moved quickly to hedge further. I also love the irony of having the debt facility, but not using it, but getting the advantage of the hedge that was required to go with it.
Also very happy to see STO/DLS have got another wet gas discovery, with a net 15 metres of pay, from over 400 metres of the patachwarra formation. Looking forward to future updates regarding the flow rates and resource/reserves estimates etc.
I think it interesting to note, that while the oil price is down today, the gap between WTI and Brent widened. I am very very happy to not hold any U.S oilers. Most of their oil is stuck in country. So the glut is going to get worse.
DLS Price at posting:
74.7¢ Sentiment: Buy Disclosure: Held
