Bit disappointed in the investor briefing released on the 23rd. Would have thought they would be closer to 1,000 bopd mark by now. They have had some delays caused by rain but 650 bopd is a bit low I feel. Plus the $20m revenue figure has been pushed out to 2008.
With the appreciation of the share price and the commitment of funds to bring new wells on line coupled with the drill cost of the Exxon Mobil JV I can smell a capital raising in the wind.
Yesterday I thought it was prudent to take some money off the table and as a result I sold DLS. Will look to re-enter at a later stage.
By the way I am still pi--ed that Kelso doesn't return my emails or phone calls. That had a bearing on it also.
Cheers Cobby
DLS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
