Ann: TOV: Ambassador Oil and Gas Ltd 02 Panel Declines to Conduct, page-10

Hi Drill, NSE is the operator of PEL 570, as you mentioned, they also have a work commitment of $42.5 million (which will cover whoever owns the other 47.5% of the tenement).

There is ZERO chance DLS will take out NSE. That would be counter productive on so many levels (the biggest one being it would cancel out the large carry I mention above), plus DLS is currently a pure Cooper Basin stock, NSE is spread all over the place.