Ann: Drillsearch Energy Reports FY2015 Full-Year Results, page-13

The way I see it, the longer BPT hold off the better for their takeover offer.....(but shite for us holders).

What I have read - "Normally, the control premium is industry-specific and amounts to 20–50% of the market capitalization of a company calculated based on a 20-trading-day average of its stock price."

So as of today's 20 day average with a 30% premium, BPT would offer around $1.00.
But if they wait for another month at these (suppressed) mid sixties levels and the offer would be around $0.85 - Either way the long term shareholders of DLS will get screwd!


As stated in the papers...."Drillsearch chairman Jim McKerlie insisting a merger would be good only for Seven, not other shareholders."

What lays ahead? Time will tell.....