Yes it is . , however DLS market cap now 275 and beaches is only...

Yes it is . , however DLS market cap now 275 and beaches is only 685m furthermore there is probably a 30 EV difference with Bpt being 20 net cash and DLS probably 10 m net cash .

The oil stocks rallied after the big drop was expected . Exactly something happened with gold stocks. The first Bounce is always strong but I very much doubt energy stocks will rally much ahead of the oil price. I do think they have a bit more to go from the oil bounce but another 5-10% and then the oil price will need to do the heavy lifting . Fundamentally AUD going up is limiting auD realised price so oil needs to go a fair bit higher IMO for a continued rerate