re: selling I suspect that many traders bought in on the...

re: selling I suspect that many traders bought in on the assumption that DLS would make a few big announcements in January, in an effort to get option holders to pay their 8 cents per share by the due date [31/1/05].
It now appears that the company has nothing to announce and therefore many of the oppies wil lapse.
[I don't think they have any underwriting agreement].
It really is surprising that the company has nothing to announce yet re. the Bonaparte Gulf leases.Rumours of major companies wanting to take-up a share of these leases have been circulating for some time- with the DLS directors themselves hinting at pending announcements.One has to assume that developments in the gulf are therefore a long way off and we must therefore hope something comes out of the forthcoming drilling program.
No doubt many frustrated shareholders are getting out because the expected January surge didn't occur and DLS has lost the chance to get $2.5mill. from option holders. There again, I suppose it means that the market cap. won't be diluted by another 31 million shares!