I've been sitting at my computer for the last 2 days watching...

I've been sitting at my computer for the last 2 days watching the bloodbath that's engulfed Beach.Remind me again not to catch a falling knife!!Bought a few at 69c today and had a smile on my face for about 15mins.

I've been musing the fact that the ASX200 is up 40% over the last year and Beach is down 14% over the same period. A quick check of the Beach website reveals they have 1,033,924,347 shares on issue and at the close of trade .665c,that gives a market cap of $687,559,690[please check my maths,it's not my strong point].

The question is this; when the next review of the index is carried out[is it quarterly?] is Beach a contender to drop out of the index?

Also, does anyone remember what Santos' offer was for Delhi Petroleum before Beach trumped them? Are we getting close to that price? I know there has been speculation before about Santos swooping and I've not been a believer, but if Beach keeps dropping Santos could have Beach for the same price it was prepared to pay for just the Delhi assets.

I hasten to add this is not an attempt to ramp up or down as I have held Beach for many years. Just curious to understand the big picture.