Ann: Drillsearch and Santos form Western Cooper W, page-2

re: Ann: Drillsearch and Santos form Western ... At first glance a good outcome for DLS shareholders I think..?

I think there are couple of trade offs which perhaps blunt an otherwise exciting deal.

Again DLS gives up operatorship (i.e - they pretty much only now control Acer assets 100% (everything else just J/Vs).

Interested to hear from posters who have a more positive view on the deal, and in particular, the wording that Brad uses at the end of the document.

'i.e he mentions that the oil deals strengthen the balance sheet'. Well, at first glance, when you look at the cash components (not the numbers that are in regards to future expenditure), DLS is down $20 million. No wonder they just increased their borrowing facilities again.