Ann: Presentation - Recommended Merger of Beach and Drillsearch, page-35

I think most know the sp's were massaged with DLS held under and BPT supported - the writing was on the wall for DLS management and they finally caved to a lesser deal then Lingo may well have achieved..

The thing is it's done now eshmun and very hard to see how it won't happen - I hold both (more DLS) and would have been happier for say 1.5 for 1 but that's just not going to happen - the good thing is that the combined entity will be greater than either so should re-rate accordingly..

If getting 1.25 Beach for each DLS share sees the combined entity re-rate to a dollar then DLS will be further ahead than the current Beach holders - if you hold 100k in DLS now you would get 125k in the combined entity @ $1...just my thoughts - glass half full..