At last count I thought they had about $4million. In the past they have always spent more cash than they have earned. So after Turtle purchase and seismic at Bonaparte I am not sure where they stand. Maybe the increased Qld production is offsetting most of these costs....?
Yes I thought their qtrly looked pretty good. Though an issue for me is that I like oilers with near term plans to drill good prospects and I dont yet put DLS in that category.
No mention of farm-out talks at Bonaparte anymore? Always used to get a qtrly report mention but they have dropped that for now.... It makes you wonder what they are up to there.....
Also at Turtle-Barnett no talk of moving to development. The talk more about appraisal wells on field extensions, which seems to suggest there is a need for more reserves....
With the new Shell discovery next door at Canada, I now see it that DLS have three good projects. They are in much better shape than they were 12 months ago.
Still a watch stock for me though.
Rgds acturtle
DLS Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
