Seven well placed to play both sides in Cooper, page-16

Hi buddy134, hands off STO, I have personally reserved that one for a SXY /STO merger. so you guys just can not have it

I personally think a DLS / BPT merger will have a lot of synergies and will increase its ability to keep generating cash...and importantly keep paying a dividend. BPT clearly needs DLS more so than the other way around, as BPT needs to keep meeting its CAPEX spend obligation via the SABJV (STO ORG and BPT) so the DLS shareholder SHOULD get the premium out of an script swap deal with BPT.
The merged entity can spin off its Moomba to SA port pipeline (its share %) in 1 or 2 years and re-apply the capital into developing the uncon gas resources. The merged entity is more powerful, and so IMO a positive. Yes Stokes would hold circa 16% (approx) of the merged entity and control the Board. He would look to benefit personally by later on......rolling the old NXS into the merged entity.....Its at what value the Merged entity pays Stokes for those assets that's the potential for value shift (negative) for Shareholders that they need to be on the lookout for......not so , as compared to the value DLS get for their merged shared.
Yes Stokes effectively stole equity from the old NXS shareholder, but problem was NXS had NO bargaining power, NONE....where as DLS does, so nothing to be frightened of there I feel. DLS will get fair value. Contentious call, but IMO fair value is circa $1.70 per share