DLS bulls are coming soon?, page-24

You don't need to be Einstein to know that DLS is a great mid-long term buy (down around these current lowish 5 yr chart levels) imho

"It expects production will remain around similar levels in 2015/16, at 2.8-3.2 mmboe.

Despite oil price weakness and uncertainty in global oil markets, Drillsearch said it had completed its largest ever work program in full year 2015, with 41 wells drilled across Drillsearch's acreage".

Meanwhile, the company expects its capital expenditure for 2014/15 will be around $145 million and fall to $80 million-$110 million in 2015/16.

Managing director Brad Lingo said Drillsearch had delivered another period of exceptional outcomes in the field. "Margins from the oil business continue to be strong and Drillsearch continues to maintain a robust cash position (holding $132 million in cash assets at 30 June 2015),"

"Even after a period of record investment in our business, we continue to have a robust financial position and a solid platform for growth," he said.

Drillsearch is targeting strong growth over the next five years. The company's work program for full year 2016 is expected to include drilling up to 22 wells and bringing new and existing gas discoveries online.

dyor