it is all tactical.
beach wants drillsearch cheap,and if the 3d takeover hands them the shares to do it,so be it.
the value of the seismic drillsearch has aquired and processed is huge to beach.the time value is bigger.beach gets all the work done at close to bottom of the cycle prices,and gets drill ready prospects just as oil prices start their climb upwards.
why wouldn't they take a cheap west seahorse [at less than the money spent proving reserves] as well to get the cooper rivers of gold from drillsearch.
and why wouldn't 3d holders go for a bigger company that has the cash and ability to drill and add value?.
3d would have to farm out and dilute anyway,so the takeover is favourable to holders,if not management.
it is all tactical. beach wants drillsearch cheap,and if the 3d...
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