Ann: Presentation - Recommended Merger of Beach and Drillsearch, page-9

I think that would be more palatable Pbnewby. Especially since DLS is basically a cash generating machine, whilst BPT is more of a cash burner.

DLS has all the growth projects, BPT has none, yet sadly the market will ignore a lot of this as they prefer the 2P numbers etc. Anyway, I have banged on about this exact outcome for 2 years. Here, enjoy a oldie from the past, boy on boy did I yammer on about it....

BPT first takes a stake in DLS (2013)

Hmm.. I actually have perhaps a 100 posts just on the eventual T/O.
Anyway, I hope some have done well out of this. Its a shame to lose such a great company, but BPT shareholders will be amply rewarded over time with DLS amazing assets.