news item, page-4

Comment from Macquarie this morning on the DLS takeover proposal (when updating analysis of DLS):

'this appears an opportunistic takeover (of AQO) to add to DLS’ Northern Cooper Wet Gas portfolio.

That said, given the lack of wet gas exploration activity proposed and limited accretion, it could be some time before this value is recognised.'

fyi

Note the word 'opportunistic'. This suggests its worth more.