the fallback to selling into the bid is 4 drillsearch...

the fallback to selling into the bid is 4 drillsearch shares--about 8 cents without the bid.

will 3d slip back under 8 cents without the drillsearch bid? most companies do slip after a bid fails.

i think most companies don't make their best bid first up, and beach was just trying for a cheap drillsearch.i don't know if they have enough fat in the bid to take 3d as well, but it isn't highly dilutive for them,and they have existing bass strait operations.

i did wonder for a long time before sending the papers off, but i don't see a short term downside.