acamarIt appears you failed clairvoyance & mind-reading. I will...

acamar

It appears you failed clairvoyance & mind-reading. I will review this stock when the inevitable capital raising occurs. Until then I remain a seller should this thing rally enough.

Rockett

How much is BL paying you???

Let's look at some evidence shall we from the man himself.
BLs address to the AGM- Lingo's Folly, Lingo's Folly, Lingo's Folly. Way forward, new strategy, new strategy, portfolio rationalisation, new strategy, Lingo's Folly, Portfolio Rationalisation. Lots of LF but everything else is lumped under "non-core" & "portfolio rationalisation". There is no mention of any assets outside Lingo's Folly except Tintaburra which is discussed until "Portfolio Rationalisation" as follows ""Quite simply if it doesn't fit the strategy that we have already laid out then it will be sold or farmed-out. ... Mature production assets ... will fall into this bucket."

I'll now refer you to JM's address on the same day where he spends a lot of time going over how he and his buddies hijacked DLS and turned it into from an exciting, interesting company into one that's as boring as bat guano. That, however, is hardlt germane to what we're talking about. On page 17 of the presentation he proudly boast that the focus is now on PEL 91 & 106 (former GOG assets). On Page 21 he says there will be a forensic examination of CER- ie we're looking for a way to extract the Lingo's Folly assets and dump the rest. On page 30 he discussing divesting all non-Cooper assets and "focussing on the Cooper Basin"

I can't find the announcement where Naccowlah is discussed as a relict asset based on preferential access to pipelines, an arrangement which no longer applies. Naccowlah is described as "under review" or words to that effect, ie we're looking for a buyer.

Quarterly Report dated 30/4/10
Lingo says Lingo's Folly, Lingo's Folly, Lingo's Folly, Lingo's Folly, Lingo's Folly, Tintaburra gets a brief mention then Lingo's Folly, Lingo's Folly. Page 7, ie 5 3/4 pages have dealt solely with Lingo's Folly, covers management changes then everything else gets page 8 under the heading "Portfolio Rationalisation". "In keeping with the company's activity in the Cooper Basin, the company is continuing its efforts to ... divest or farm-out ANY non-Cooper Basin assets and ANY non-Cooper Basin interests"(My emphasis) Now put simply "ANY non-Cooper Basin assets" refers to the Gippsland Basin permits, "ANY non-Cooper Basin interests" refers to Flinders, CER etc

So here are some examples of BL stating his strategy but I'll summarise! All DLS assets are to be disposed of as is the GOG Gippsland acreage. All company funds are to be channelled into a high-risk venture in the Cooper Basin I have named Lingo's Folly.

I didn't dream up the plan to dispose of Tintaburra which as you say is DLS's biggest JV. BL says quite clearly in his AGM presentation that it is on the block.

Gippsland and Flinders are still prominently on the website because they haven't been disposed of yet. CER is mentioned there because DLS still own 80%ish of it.

Eighteen months back the Bonaparte acreage was all over it- gone. Twelve months back the Carnarvon permit even rated its own announcement- seismic complete, prospects identified, valuable permit, diversification etc etc- gone Twelve months from now all that will remain is Lingo's Folly. Gippsland- gone, Flinders-gone, CER- gone. One of BL's buddies will get $$$ redesigning the web-site (maybe even the same one who got the new logo gig?). Lingo will have to get his nose out of the CER trough but that isn't where he plans to make his name- Lingo will acheive immortality in OAG circles through Lingo's Folly.

So show me ONE place where a non-LF asset (with the exception of Tintaburra and Naccowlah) is mentioned anywhere in a release from DLS OTHER THAN under portfolio rationalisation! Explain the reference to "mature production assets" being part of the rationalisation process as meaning other than Tintaburra is for sale! Explain the references to Naccowlah being a relict asset and non-core as meaning it isn't for sale too! Explain how ANY non-Cooper asset doesn't refer to the Gippsland/ Flinders/ CER!

Over to youSpin Doctor Rokket!

TR