Ann: Presentation - Recommended Merger of Beach and Drillsearch, page-5

I thought the same about SXY but they'll bed this down first - remember stokes only took up DLS & BPT & he could have taken a postion really cheap in SXY but didn't. They would be in no hurry - they have enough of their own acerage to focus on as a combined entity - and will want to hang onto cash for what STO have on the chopping block.