Merger saga, page-13

Eshmun

I concur with your last comment !

if you look at the 2P/3P of both DLS / BPT, and compare prod profiles - the "relative" market caps are "about right" ......BPT perhaps 10% over on rel basis .....

there are two main deep troughs in the CB .....one has been tested, and while gas saturated, has high co2, and variable perm ........the other is quite a bit shallower, has much lower co2, and (in places) assoc liquids ............

should any "merger of equals" occur - this is what the game is about .........

clearly - any deal would be script based ..........(refer your last comment again!!) and it will take "some years" for the above resource play to be proven, and many many years for it to be developed........

Seven is also clearly feeling the financial pain of having to "carry" E&P assets .........hence the "hurry up pls" from various punters !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

rgds
V_H