This is how I see it playing out, SGH build a larger stake in dls. Beach launch a take over bid fairly soon, using mainly equity as they don't have enough cash. SGH gain a controlling stake in beach through the dls acquisition. Then beach becomes SGH's plaything to build a major mid tier oil & gas company, with some very strong cash flows, to mop up anything else that fits into the cash cow
Nappamerri deep gas play dead, page-7
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