BEACH PETROLEUM - BPT

[bermuda]

BPT - Chiton-1 Drill on PEL 91 (BPT 40% & DLS 60%)

http://www.stocknessmonster.com/news...E=ASX&N=173369

Nice map on page 2 shows why BPT are after DLS

Remember BPT already has 75% of PEL 92 (with 2 recent oil discoveries, COE has the other 25%).

An oil strike might make it hard for BPT to secure DLS, but a dry hole might be enough to snear DLS.

What's the bet there's oil around PEL 91? (Notice Growler in the map )

BPT/PTR - Geothermal Ann

http://www.stocknessmonster.com/news...E=ASX&N=173367

Thanks Shasta for this info. I am always interested in Growler...and Snatcher.

Something is going on between BPT and DLS. I think DLS are complaining that they have been undervalued. All bodes well for all companies involved. Of course I continually am looking at Beach to get any hint of their next takeover. They are cashed up ready to go and I reckon they like this Cooper Basin area,,,as does Santos and others.

I am hoping they have ITC in their sights. Perhaps they are waiting for Snatcher 2 to come in.

Thanks again for that reference.

[suntboy]

hi guys
dont know if this helps but there as a small mention in the australian yesterday hinting that the deal wont go ahead as time runs out this friday and beach has only secured 21 % of dls with little or no hope of a time extension

cheers

[whatsup]

Sun..., Is the take over conditional of BPT securing a certain % of DLS, if so what happens to the shares that BPT have in DLS if they dont reach that threash hold?

[macduffy]

Pending sboy's response, I'm not a DLS shareholder but my understanding of the offer is:

Offer closes 14 August but I don't think that BPT have declared that a final date, so there may be room to extend.

The offer is now unconditional so I guess that means that BPT hold on to any shares that have accepted. About 22% at last disclosure.

BPT have declared the consideration to be final so they can't increase the offer. They can, of course mount a new offer when this is allowed.

Someone has been buying DLS at well above the theoretical value of BPT's offer which indicates that another bid is expected, or at least that someone thinks that it will be!

Happy to be corrected on any of this.

[whatsup]

Mac..., or they are paying the drill premium that is presently in play which is what BPT was out to get for .03 as their offer, all will be reveiled in the next 30 days with the results of the 2 holes known.

[macduffy]

Mac..., or they are paying the drill premium that is presently in play which is what BPT was out to get for .03 as their offer, all will be reveiled in the next 30 days with the results of the 2 holes known.

Indeed! Beach has made a big thing about the Eastern Flank of the Cooper in recent times. Doesn't look as if they'll be able to increase their interest here quite as cheaply as they had hoped.

[shasta]

Indeed! Beach has made a big thing about the Eastern Flank of the Cooper in recent times. Doesn't look as if they'll be able to increase their interest here quite as cheaply as they had hoped.

PTR: South Australia Future Energy Conference Presentation

http://www.stocknessmonster.com/news...E=ASX&N=173493

I thought Beach holders & followers may enjoy this presentation, to elaborate a bit more on the Paralana geothermal project.

The presentation also mentions the other geothermal plays.

As well as PTR, i do like the potential in PAX

[soulman]

Shasta, when you say BPT is an action coy, you are not joking.

Sold AOE holding too early and would have enjoyed a near 20% premium, and to taking over 22% of DLS and now sitting on 100% premium.

Would it be weird (if DLS stays at current prices and high volume) for BPT to offload all their DLS shares at current prices. I think their T/O ratio was about 3.2 cents for DLS and DLS closed today at 6.2 cents. Certainly worth a ponder and would ASIC ask some question if it were to happen.

[shasta]

Shasta, when you say BPT is an action coy, you are not joking.

Sold AOE holding too early and would have enjoyed a near 20% premium, and to taking over 22% of DLS and now sitting on 100% premium.

Would it be weird (if DLS stays at current prices and high volume) for BPT to offload all their DLS shares at current prices. I think their T/O ratio was about 3.2 cents for DLS and DLS closed today at 6.2 cents. Certainly worth a ponder and would ASIC ask some question if it were to happen.

DLS will also be moving up on anticipation of the PEL 91 drilling with BPT (DLS 60% BPT 40%)

I posted a map of the fairway, next to BPT/COE's PEL 92 (with 2 recent oil discoveries) & it showed the Growler field (VPE/BOW) up the top.

Good chance PEL 91 is sitting on an oil fairway, but we both know BPT wont move up in anticipation, though DLS is more likely to.

The drill results will be interesting

[STRAT]

Thought Id have another look at this one. Havent looked at the chart for a while. I see BPT is still doing what BPT does best. An on going trading range or is it? Do I spy an accending triangle.

Was wondering if anyone would bother to trade the range until I looked at the candles. Too much like hard work I would think.