"It is about blocking takeover of 3.D oil by DLS"
with respect....but that's bollocks
You can call it as you want but read it below:
"Beach's offer is subject to acceptance from 90 per cent of Drillsearch shareholders and Drillsearch not issuing shares to any other party aside from CPC Energy, which is set to acquire 60 million shares in relation to Drillsearch's acquisition of CPC's Tintaburra Block in south-west Queensland. What this means is that for Beach’s takeover to go ahead Drillsearch won’t be able to issue any shares in its scrip offer for 3D. "
http://www.businessspectator.com.au/bs.nsf/Article/Beachcombers-Drill-kill-pd20090505-RR5QH?OpenDocument
dls 50mil takeover..., page-39
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