The Beach deal with DLS reinforces the continued interest in...

The Beach deal with DLS reinforces the continued interest in this area of the Basin for all the reasons we have already noted.

Length of time being taken to close a deal does not alter the strength of our hand in the underlying scenario.

Like everyone else I am thoroughly disappointed with the time being taken. But no way am I selling at this price.

I think Senex wouldn't contemplate a bid below $1.10. That leaves us still nicely positioned with a material resource that majors can get access to before being excluded from the Basin.

No news does not mean a deal has collapsed. The current selling could have easily been a result of a margin call on a portfolio recently (a bit of this going on over the last couple of weeks). The amount is still pretty small. There is no conviction selling by big holders.