Speculator I think your statements are pretty sharp and...

Speculator
I think your statements are pretty sharp and unsubstantiated. You say "its pretty simple"! There is a takeover bidding war and some unexpected things are going on behind the scenes.., it does not look that simple to me.

It does not look that simple in therms of financially (takeover financing) and technically (evaluation, drilling and completion).

First of all, you should know that you need the US experience if you are going to explore (evaluation, drilling and completion) the shale resources. That is a must. Even our sole and best shale explorer/producer company Santos states that their shale exploring and drilling equipments are all coming from the US including its technical team.

We know nothing here about the shale exploration when our knowledge is compared to the experience and knowledge in the US. We make too much mistake and have very high costs. So we need the US technology. That is the simplest thing to know. (Read Santos documents and see)

MHR is a much bigger company than DLS while it's a junior in the US. MHR's managements is one of the best in the US in its level. The CEO G. Evans is an ex-banker and with a very good tech. team behind him. (Financing and finding cash is no a big deal for him) He built a similar company and sold it for more than $2b only 6-8 years ago. Then he has started the Magnum Hunter again. It has gone up from 15c to $8 in just two years. These guys have the very best and extremely strong experience about the shale geology, drilling and completion in the world. Moreover, they have a very strong ambition about getting a position in the Cooper Basin of Australia, which also shows how smart they are.

You said "...the main shareholders of AQO never wanted to hold Magnum Hunter shares. They know this is the best deal they can get from DLS. They want cash, they want continued 100% exposure to the Cooper Basin and DLS is offering that. Magnum is offering neither.... no cash and tiny, possibly 1% of their company's assets will be focused on the Cooper."

I think you are only expressing your personally wishes. Otherwise your statement looks pretty thick! Cooper is not going to be 1% of MHR's assets. You know that. I also don't know who are the main shareholders of DLS and why they wouldn't want to hold Magnum Hunter shares but they only only want cash! Everything can be converted to cash in any case. They can get Magnum shares and sell them in the US market quickly. It's not that hard for those people who have millions of dollars. Then they could buy the shares of any Cooper explorer.

You said "For what its worth, I think DLS is paying too much. I like that it was a script only deal."
How do you know the value of PEL570? DLS and MHR know about the technical details of PEL570 and Patchawarra Trough? I explained the tech. details I know before. See my post "The Tight Gas gas potential of Copper is huge". The key point is here that the Patchawarra trough is much better than Nappamerri Trough in terms of gas content and drilling problems in the deeps for shale gas drilling. IMO Beach Energy and Drillsearch are actually wasting their money and times in Nappamerri Trough (due to high temperatures and high CO2 content). Santos is succesfully (and SILENTLY) producing gas in the Patchwarra Trough from the "continues gas accumulation on continues formations".

You said "I have to disagree with you about DLS being 'late' to do the T/O, they have clearly outmanoeuvred Magnum to get the initial 20% holding,.." That's not true. You have to accept as it is obvious that NSE & MHR made the move and got 52.5% of PEL570 much before than DLS. They only want the whole lot know. So, DLS is too late. They have to pay a lot more now whether you like it or not.

And they don't have the operatorship of the permit which is a very important issue for MHR and other shale explorers in the US.

Also, I think you need to,look to NSE from a different angle by new eyes now, without using the humiliation and manipulation filters. Otherwise you may use your credibility.