Ann: Presentation - Recommended Merger of Beach and Drillsearch, page-51

Not thrilled about this merger and I guess most thought this was distinct possibility at some point down the track. I looked at both BPT and DLS and decided that as a LT hold that DLS at 50c was better. My question now is has BPT already been re rated in the current market assuming a done deal with BPT having a better balance sheet, more production and more growth potential ? I sincerely hope the new entity doesn't go on a spending spree just for the sake of it. I am not going to take profits and run and who knows maybe the new DLS will be even better, yes I realize I didn't refer to it as the new BPT.