Let's no forget, though, that a BPT takeover significantly...

Let's no forget, though, that a BPT takeover significantly de-risks things for DLS holders, by extinguishing the convertible notes, and by giving DLS shareholders a dividend stream. Further, both entities will benefit from a 'blue-chip premium', as well as improved operating efficiencies. Finally, a merge entity will be better able to explore and develop the assets that DLS acquired through the Acer and Ambassador takeovers. These assets will get developed sooner rather than later through the merge entity.

I'm quite happy with the trade off between lower potential upside that I was exposed to by holding DLS as a stand alone entity, and the benefits of scale (and easier access to development finance) that come from the merger.
Was happy to hold DLS. Will also be happy to hold the lower risk merged entity while we wait for the world wide cutback in oil exploration and development investment start to take effect.
Also, I might add, we don't know how long the oil rout will continue, so a bigger, more financial stable company increases the chances of survival should things stay messy for longer than many of us assume, as well as gives us the capacity play the role of the vulture should the opportunity present itself.
Also, you'd think with the Santos takeover offer, that the new entity would be a tasty target for an international.