External affairs chief Chris Jamieson, who delivered the presentation to investors yesterday, said there was a benefit in combining Cooper Basin players.
“There’s no doubt Seven taking its position in both us and DrillSearch to 19.9 per cent sends a pretty clear message,” Mr Jamieson told The Australian, adding that consolidation talk around the pair was more than five years old. “Someone did the analysis that if you add the corporate costs of Senex, ourselves and DrillSearch, it’s the same as (BHP Billiton mining spin-off) South32, which is a significantly larger organisation than the three of us combined.”
DLS Price at posting:
79.0¢ Sentiment: Buy Disclosure: Held