Agree, Simpson presented much better this time 'round. Wet gas...

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Antman4

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23/10/15

06:22

Post #: 16235407
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Originally posted by speculator101 ↑

Rizzla, its mentioned in the Quarterly conference call (albeit, they say about to begin evaluating... so all we know is that well has just hit target depth)

I think DLS is showing its strengths as clearly as it can. It was able to build up its cash position to the tune of $31 million, that is after spending $6 million in capital expenditure. With a projected further spend over FY16 of $74-104 million. As they have over 1mboe hedged for FY16 still, if the price of oil stays around US$50 a barrel, DLS will easily be able to accommodate their cap ex with the possibility of adding to their cash balance by as much as $15 million (if they spend only to the low end of their projections). An amazing feat in the current climate.

Also, very happy to hear that all the Wet gas ties are going as planned, with some results already to the high side of expectations. Also, Western Flank production should be fairly stable over the rest of the FY due to their still being wells to be brought online.

I think Walter Simpson handled things well. Feeling more comfortable about his leadership now.

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Agree, Simpson presented much better this time 'round. Wet gas will start to bring in revenue later this FY, which should help the DLS coffers.

Last edited by Antman4: 23/10/15

DLS Price at posting: 65.5¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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Agree, Simpson presented much better this time 'round. Wet gas...

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