yep its absolutely odds-on for for a "merger" of DLS and INP.
we can see: - Wecker was/is director of INP - INP has no money - now DLS hasw got/getting some cash - should be some synergies in Cooper Basin - would think DLS would get rid of INP stake in Bass Strait, and just concentrate on C/Basin - i would think INP needes this more than DLS
I have concerns whwther DLS should have appointing Wecker to Board, as the performance of INP has been really poor - i had shares in INP - INP announced the discovery of the Flax oilfield in C/B - they said that the Flax discovery/field was the biggest onshore field discovery in Australia!
Then latest is the field was a DUD!
they cannot even deem it commercial.
INP shares I think were something well over $1.00+, then they crashed to something like 7c ???
One INP s/h bought millions of INP shares at prices like $1.20, and now they are worth zip!
Clearly, the common denominator between INP and DLS is Mr Wecker.
On first blush it makes sense for DLS to bulk-up its interests in C/B , but i am not sure if INP is the way to go.
I recall that AGL farmed-in to one of INP blocks looking for CSG, but they have now deemed the gas uncommercial.
So am not sure if INP has much to offer.
cheers
DLS Price at posting:
64.0¢ Sentiment: None Disclosure: Held