For me not a bad report and too many people trying to read into it too much.
It's a case of runs on the board I feel. It seems like we went form $1m to $10m and discovered it was only $9m so lets winge about he drop from $10m to $9m in stead of celebrating the rise from 1 - 9 if you get my drift.
For me it's not 32 and 13 it's 55 discoveries and 16 in production.
I think now it is imperative for DLS to start to bring as much into production - equals cash flow - to service further capex and debt now and not go further into debt diluting SH value.
I think the real interest has to be the Santos and QGC JV's and how they play out over the coming six months.
The debt isn't a real issue even if the AUD rises because the upside of the AUD is limited, the downside is far greater so there is a natural hedge. In any event we are talking on periphery so the impacts are less than what they could be. Our debt should be in AUD while the AUD is strong - this is the hedge.
At the end of the day we can get caught up in the minutia of what is really happening and lose sight of the big picture and that is DLS have done very well so far. Patience people patience
Cheers BW
DLS Price at posting:
$1.16 Sentiment: LT Buy Disclosure: Held
