I am slightly biased as per the end of the above post.
(IMHO) DLS offers the most activity in the basin on a Market cap / ratio per well, it has 40% of its MC in cash, its got short, medium and long term growth plans... I have been critical of DLS speed in getting things done, but I am continually being shown that they have been doing more than I thought in the background.
The upcoming wet gas exploration in PEL 101 is a case in point. The gas and liquids are there, the unknown is if the fields are economic (DLS think they are). If things go well, DLS will be able to add substantial amounts of gas and oil to its 2P reserves.
Anyway, above all, I like that DLS is cheap on many metrics, and its break even point is $25 per barrel. If we get down there, they can still survive, even the Saudis will struggle down there.
DLS Price at posting:
73.5¢ Sentiment: Buy Disclosure: Held
