Ann: 2015 AGM CEO's Presentation, page-11

Yes we are being adversely affected.

Despite all the synergies, which is just a buzz word to make people look smart, the newly merged company, Drillbitch, (suggested name) will not hold any value for DLS holders as we are brought down to their (BPT) level which I believe to be an inferior one.

I know oil is being hammered and is caught up in a trading theme atm but it's not about now it's about the future and I can't see DLS shareholders gaining any benefit here. For crying out loud we are almost back to where we started from at $0.60 and on our own I believe our SP would be higher. So for now it looks like BPT are headed for sub $0.50.

Is this really what SVW wanted. I cannot understand the logic of buying huge stakes in two companies at circa $1.20 just to force a merger either because you thought it was a good idea at the time or someone was whispering sweet nothings into your ear - 'nothings' being the operative word.

Question: Are SVW management the smartest guys in the room? Do they really understand what they are doing here?

Whether the answer is 'yes or no' can someone please explain it to me like I'm a five year old because this can't make sense at any level.

The investment halls are littered with the corpses of failed mergers that were not thought through to any great depth.

Last, if people are having a hard time swallowing this then can I suggest that you expel some of your energy to write to ASIC instead of trying to moan about it on HC. Yes it might seem a piecemeal gesture but I can assure you all that you can achieve a lot more by at least having a go than not. Furthermore, if you are unhappy let the company know by writing directly to them. Moreover, you can write to stakeholders such as BG [email protected] and RDS [email protected] and make a case directly to them.

If you are not getting that warm fuzzy feeling about this merger then it's time to get active and do something about it.

Cheers
BW

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There are known knowns. These are things we know that we know.
There are known unknowns. That is to say, there are things that we
know we don't know. But there are also unknown unknowns. There
are things we don't know we don't know.