afroboyYes I am prepared to go out on a limb and say they are...

afroboy

Yes I am prepared to go out on a limb and say they are looking at selling canada as we speak. With crude heading for $150 a barrel it will look attractive to someone at a discounted price. Why don't they sell the Turtle/Barnett block while they are at it, it is just sitting there expiring. Per the merger presentation it is scheduled to expire 15 October 2008 (note retention lease). It also mentions review acreage releases which tends to suggest they will either try to farm some out or let some expire and keep only the "strategic ones". There are too many on the go which scares me! I guess we will know soon enough.....

I am not familiar with GOG other than to say they are looking into the construction of a gas processing plant in the Cooper Basin. I am not sure what the size of this field is nor even the potential it can generate.

One thing I note is that GOG reports cash in the bank of around $6.3m as at end of 31 March 2008. After the rights issue DLS had $6.8m left over. Doesn't 6.3m + 6.8m = 13.1m ? Why then does the merger presentation say only $8m cash on hand? Have I missed something? Who has pocketed the remaining $5m??? Do you think Dixon wants more equity and very discreetly slipped $5m in his pocket unannounced???

Cheers!