Hi Bill - yep, 1.445 looked too good to resist, but only went in...

Hi Bill - yep, 1.445 looked too good to resist, but only went in with half so far, being v cautious - so my 20% profit target is now only $1.734, which is a doozy in next 2 months IMO. Think market misread Bernanke - if he doesn't need QE3, that's cause the US is in full on recovery mode... it's also excellent for oz dollar to go back towards parity as far as exporters are concerned, so good for oz economy... oil price not too shabby either.

DLS does make me laugh though - 2 dry gas wells and it went north, 1 well surpasses expectations and it comes off ! Expecting back over $1.50 as soon as last well spuds and excitement builds.

I'm more and more convinced DLS should get in bed with ACN, who need a JV partner for their flax/juniper field... the expertise DLS have accumulated in last 12 months of success in multiple areas, oil, wet gas, shale could make the difference to the ACN oil fields and ACN have so much acreage with unknown potential - they could have the wet gas or shale potential just waiting for DLS to come in and unlock - they tried half baked t/o ACN as INP over a year ago but with the cash flow coming their way could even have another go if they want the whole thing...