dls needs to raise cash, page-40

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Depth changes all the time people playing games placing and pulling bids. Hardly a strategy to hang your hat on.

How big was the discovery? It was huge IMO. Let me explain.

You are only looking at it in nominal terms but I see it in another way. DLS/GOG have always been criticised for not being able to find oil. Too many dusters and a lot of criticism over the months has forced people to lose faith and lose patience. But the wells that were drilled were not all dusters in the traditional sense some of them were HC shows (not economical) but it helped DLS/GOG to understand the tenement better and pin point* there 3D sesimics in the right areas. The result Chilton "Cased and Suspended" not "Plugged and Abandoned". Marino may very well flop but having talked to Brad Lingo prior to the Chilton discovery he has confidence of the process and analyses of PEL 91. The systems and processes DLS have employed have a high success rate relatively speaking.

Looking at it in this way I believe Chilton was bigger than your naive analysis has indicated.

Sufficed to say I have been with this company in one form or another for some time. I have taken the time to read everything I can and talk to several people in management and the board. While I understand that everything has risk attached I believe that a lot of that risk has been mitigated at the operational level of DLS. The political machinations of the board are a distraction.

All I can say is DLS deserve a go and SH support.

Cheers
BW

* I believe BPT knew what DLS had hence the opportunistic TO bid. They were suppose to be partnering DLS but in fact tried to take advantage of them and the SH.