TR and dimmaThe last wells that DLS drilled were dusters and the...

TR and dimma

The last wells that DLS drilled were dusters and the stock was heavily discounted and remained so for quite some time.

I think that part of the current rise in the SP will be permanent as DLS has proved that it can find oil in its tenements. In some ways we need to thank BPT for highlighting this to us by their TO bid and because of this I don't think the SP will fall back to 3 cents. It also adds to some of the increase in the SP that will remained supported. Dimma it's not a slither or should that be sliver it's 60%.

Initial indications are a total of up 500,000 barrels including the reserves about AU$40m of which DLS will earn AU24m at current prices. Remembering also that the well could produce more. In addition DLS are going to bring 2 wells I think in to production further increasing revenues.

So yes there may be some froth in the SP but that is hardly DLS's fault that is the dumb markets fault.

The next well will be key to support the SP where it is currently.

What I think is exciting is the prospect of DLS having enough revenue and funds to complete the seismics and starting drilling their other tenements. Bass Strait comes to mind.

All the best to holders and don't get sucked in by the rhetoric slow and steady wins the race.

Cheers
BW