DTE, page-3

I wonder how Mr Neale will try to smooth this one over? At present the BOD look utterly ridiculous given their support for a scrip takeover where the acquirers SP has tanked.

This proposal was a dog for Dart shareholders from the start. Dart has no debt, cash in the bank and farm in's with 2 majors, but Igas has heaps of debt and no earnings so I struggle to see how that is good for Dart.

To put it another way the "Upside" for Dart shareholders is they get exposure to the debt and NIL earning capacity of IGas and in exchange give away 2/3 of their exposure to potential upside available via use of Dart debt capacity, Dart cash and funds from to Majors who have farmed into Dart shale & CBM assets. What a rubbish deal for Dart.