Ann: June 2015 Quarterly Report Conference Call, page-29

Eshmun, cheers for the charts, I don't really agree that Oil is going to go much lower, but that's just my humble opinion.

Just had a read of DLS neigbhour, Beachs quarterly.

Bodes very well for DLS. BPT basically says Western Flank production will stay high for the next 12 months, plus most of the new fields won't come online until the start of next year, which if you couple that with the fact that there are still quite a few Bauer wells to come online, that DLS 3mmbo target for FY16 looks pretty safe.

What also caught my eye is the huge reduction in exploration being undertaken by BPT. $50-60 million in total across all of its acreage. DLS is going to be spending a similar amount (with the free carry's included) yet its market cap is 1/3 of BPT. Also, BPTs production guidance is well done from last year, yet DLS is pretty much stable.

Once DLS provides a clear picture of its drilling program for FY16 I think the market will realise that DLS is the only real explorer in the Cooper Basin and to some extent, Australia, other than perhaps BRU in the Canning Basin, who is still exploring for conventional targets (plus unconventional too) (because it has the strong cashflow to do so).