just wanted to post re: Drillsearches excellence in drilling...

just wanted to post re: Drillsearches excellence in drilling presentation and poke some holes in it

- dls discuss the poor drilling performance of western seahorse last year, yet make no mention of this years massively positive results

- dls continue to use the pre-offer price as their calculation for premium. When will they understand that the market has priced them out at the 4-1 price? (ie i can receive more cash by trading my tdo shares on the market than i can receive script in an illiquid company)

- of the 41 million shares dls have rights over, how many of these are owned by current management and directors? ie if a director in dls bought the shares at 5 or 4.5 cents, then intends to trade them to dls at 8 cents... you get my drift

- dls note that there may be some CGT roll over relief if 80% of shares are acquired. do they expect noel to sell all his shares to them, or nearly 100% of all other shareholders selling to them too?

- on that note, if dls had made any leeway with any of the other top 20 shareholders, i'm sure we would have heard about it by now - so i'll just assume that they are struggling massively to get anyone on board

- their claims over increased liquidity - see tdo's rejection statement for refutement

- in their review of the tdo shareprice they make 2 connections to Peter Wilcox being on the Board. He was the chairman - a NED. can someone please clarify how he would have an impact on the sp of tdo, rather than someone in an active role with the company?

- dls forget to mention that they actually lost their MD (not a NED, but someone who actually runs the company) over disagreement over the purchase of tdo. pretty big thing to omit

- finally, for some reason, the value of tdo is only ever linked to the sp of the company, yet dls' value is always represented by its unproven reserves. If tdo were to be valued in the same way, based on the proven 1P reserves alone, tdo is worth around 50 cents.... so 12 cents is a little below market price

all in all, is there anyone out there stupid enough to listen to these used car salesmen try and spruik up some support for their failing company?