Ann: Target Statement in Response to Drillsearch Offer, page-6

I'm not a director and haven't gone through the numbers/tax implications and risk metrics but there is clearly some basis for their comments. It is not some big conspiracy as is being suggested here.

I would argue that DLS is not really priced as a growth stock currently given its impressive cashflow from current oil production. PWC also suggested that Magnum Hunter's asset valuation were a bit dodgy.

In any case, how is Magnum Hunter going to win this battle? I don't see it. DLS has more than 50%. How can this be clawed back? Magnum Hunter would have to prove some pretty dodgy dealings between AQO/DLS. Given Brad Lingo is a former acquisitions specialist I think the tracks will be covered pretty well.