Reading BPT thread a few options 1. CBA upgrade 2. ade discussing encounter gas readings with beach - leaky boat 3. DLS has had good run and given the uncertainty plenty of people maybe taking profits today - including insot that participated in CR.
I note BPT in Monthy report out 4.15pm use the term significant oil find to describe Bauer - they rarely use these words They also discuss arno and their view it wasnt commercial and decision not to participate in appraisal - it should be noted that post their decision DLS conducted a DST with the equiv flow rate from Namur sands over 24 hrs of over 800 barrels per day - thus DLS suspended well as a producer and have confirmed discovery. Given the size of namur 400k odd barrels probably not worth BPT bying back their interest at a multiple of DLS costs. I think BPT may also be prevented to buy bakc tosave face as they would admit they got it wrong. When i spoke to BPT about arno weeks ago they mentioned that determining whether its a find is more art than science. looking back at those comments now - they were probably a justifcation of not progressing with what has ended up as a find
DLS Price at posting:
55.8¢ Sentiment: Buy Disclosure: Held
