Seven well placed to play both sides in Cooper, page-3

Hi All

Well this is the closest we have come to know what might be ahead of us as opposed to all the speculative nonsense that was being touted before.

Most likely a merger with the benefit of reduced costs etc.

My only concern is the stakes that BPT have in Egypt and Tanzania because it's in Africa, unstable and therefore higher sovereign and geopolitical risk. Romania less so but note its proximity to Ukraine.

I do note that they have written off significant expenditure in Egypt and do not make any mention of other international portfolio involvement other than to say they all international portfolios are under review which is interesting. Other than that it is as if the international portfolios ever existed

From their presentation in Nov 2014
"In some of the regions of our Egyptian exploration portfolio that search for commercial hydrocarbons has not been as successful as we would like....."

BPT should have stuck to its knitting in Australia and have cost the company dearly by their international folly so I question their judgement in getting involved in these projects and their judgement in general.

I guess what I am saying is that Beach should be in a much stronger position than it is today so I wonder how might any merger look and what will be the benefit be to DLS shareholders given it has been managed extremely well. I also note Reg Nelson's retirement this year.

What do people think?

What will DLS get out of this possible merger?

or

....is their a bigger game being played out here???

Cheers
BW
_____________________________________________
There are known knowns. These are things we know that we know.
There are known unknowns. That is to say, there are things that we
know we don't know. But there are also unknown unknowns. There
are things we don't know we don't know.