In the recent bid to Acer shareholders, DLS stated the...

In the recent bid to Acer shareholders, DLS stated the following:

"Drillsearch said that should Acer shareholders accept the offer, Drillsearch would have a resource position of 38.7 million barrels of oil equivalent on a 2P basis."

At that point in time the offer was 25.5c per Acer share.

Based on the RISC audit (of Flax) they have identified a 280% increase in the in-place oil and gas resource to 88.5 million barrels of oil equivalent on a 2C basis.

So do you think DLS need to adjust their bid accordingly?

Disclaimer: Resources other than Flax need to be considered and we cannot accurately compare 2P and 2C resources.

Sure, any potential suitor is taking on somewhat of an unknown quantity and should get some discount.

The reality here however is that some experienced players know the enormous potential and their biggest fear is missing out on being a part of it.