What a manipulation all this seems. DLS's 3 year average 30% premium (gap in price to Beach) closed under the cover of the oil rout only to be given back on the merger as I've said all along (won't bother providing the links to my previous posts you'll all be sick of them by now). Just happened a bit earlier than I expected. I thought they would have needed to go out to the beginning of Dec for the 3 month VWAP to pan out properly. What a disgrace for the long term shareholders.
Well going forward it is a done deal.
Just a decision whether to sell or hold now.
I'm not finished with my oil play yet and even though we got the raw end of the stick (big time) the merged entity might have appeal when the oil price comes back as it will inevitably do.
So a long term hold for the ride to the $0.90 to $1.00 range then reassess options.
Good luck to all.
Eshmun
DLS Price at posting:
77.0¢ Sentiment: Hold Disclosure: Held
