Ann: CEO Succession, page-20

Hi All

This is certainly out of left field and a sad day for DLS holders.

Brad was fiercely committed to the SH and the notion of going it alone - something myself and a lot of others were in favour of. Brad was the driving force that got DLS to where it is today and ensured that even through the current malaise in O&G we are reasonably better off than most.

My thoughts are that he believed that DLS was a self made company with potential to grow on its own but this was probably not accepted considering the current stake that SVW has now. I think SVW are driving things behind the scenes so who knows where this is headed at least under Brad we had direction and a plan.

Funny enough I was on the phone with the company a couple of weeks ago expressing my concern about the influence of SVW but was assured that they are quite happy with what DLS are doing and were prepared to take a backseat. I took this with a grain of salt as I think that SVW stake in the O&G industry was quite aggressive and I don't think it's going to stop at that. It's more than a coincidence that with SVW's stake comes this. I did say it will be interesting to see what happens after the CR by SWM. So it is fair to say that Brad most likely had a philosophical difference with the future direction of DLS and he has done the right thing, the honourable thing, and moved on without fuss and bother which in the end is good for the SH. Nothing worse than a brawl in the boardroom - long term holders will know what I am talking about.

So where to now, who knows?? but agree with Spec that DLS should stick to it's knitting and not go the way that BPT did and get into things that they do not understand or can't control. At the end of the day someone, somewhere has a grand plan and it may likely be well out of DLS's hands. I did write about this in a previous post and wondered what the future holds for us.

There will be a lot of comedy and theatre to be played out hear on HC and out there in the real world before we know what our fate is.

In the meantime.......

......we sit and we wait for the next installment.

Cheers
BW
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