Looks like Brad missed $1.30 as well. If the guy at the controls misses the top what chance has the little guy of picking it?
The point I'm making is that the market may not like the merger and there is a Stokes buy in premium attached to this stock at the moment in my opinion.
If I was still a shareholder I wouldn't want the merger. The company has its two pillars, the conventional oil and the wet gas discoveries with Santos. If it doesn't receive a premium for the cards it holds, the average shareholder will be disadvantaged in the short term. Maybe the pay day will come when the oil price is riding high again and the merged entity is taken out by a resurging Santos. That day ain't here yet. Don't you like another perspective?
Let me know what you think the short term future of the share price is? Then we can compare notes after the merger.
Eshmun
DLS Price at posting:
$1.13 Sentiment: None Disclosure: Not Held