DLS - Drillsearch Energy

Breakdown of DLS:

Debt: $16.5 Million to Meridian
Current placement of new shares up to 558,068,040 @ .04 to raise $22mil repayment of Debt.
That will dilute to 1,116,136,080

Expenditure of $5mil per quarter

Management will have to consider a reverse split in the future, wouldn't they?.

DLS has the JV with Exxon which could produce some good results, still acquiring seismic 2D.

I will wait until some drill dates with Exxon are in place before buying back in.

Good Luck Tekram

Riding the waves with you man all the way. Tell me something I don't already know thou. Everything you posted is general knowledge, Exxon brings a lot of expertise to the table. Need to trust your instincts on this one.

Could dip below .04c after placement with extra shares floating around if nothing positive to stimulate the market, however you look at it this share is cheap at present levels.


keep waxen the board, the wave is coming

tekram said:

Riding the waves with you man all the way. Tell me something I don't already know thou. Everything you posted is general knowledge, Exxon brings a lot of expertise to the table. Need to trust your instincts on this one.

Could dip below .04c after placement with extra shares floating around if nothing positive to stimulate the market, however you look at it this share is cheap at present levels.


keep waxen the board, the wave is coming

Click to expand...

You say my info is public knowledge are you saying you know something everyone else doesn't? If so share the wealth of knowledge you hold...

My instincts tell me too stay away from this one for a while yet due to the debt, dilution and lack of return on their projects.

Only trying to help.... But sounds like you know everything anyone could ever want to so good luck...

tekram said:

Riding the waves with you man all the way. Tell me something I don't already know thou. Everything you posted is general knowledge, Exxon brings a lot of expertise to the table. Need to trust your instincts on this one.

Could dip below .04c after placement with extra shares floating around if nothing positive to stimulate the market, however you look at it this share is cheap at present levels.


keep waxen the board, the wave is coming

Click to expand...

Tekram - Before criticising the contributions of others it would be nice to see something meaningful contributed by yourself.... besides a ramp that is.

Since it is your view that DLS is 'cheap' at current levels, perhaps you can offer up some analysis to support your position.

Guys,

It was not my intention to criticis just pointing out that the wonderful post by surfingman is already in the public domain. No offence intended.

I do believe this company will go places the 22mil probably be used for some debt reduction,acquisition and working capital. All is not entirely clear at the moment.

The rights issue shortfall is going to brokering houses to take up the slack.
So they need the cash for something important.

Company announces that it is selling all non core assets to "Concentrate on priority projects" this is a penny dreadfull does that not strike you as odd.

Also the chairman bought 3 million shares between monday 21st and wednesday 23rd before the cut off to get on the company register before the 31st Jan to get the rights entitelement.

I am just dissecting and looking at the information from different angles.

I do believe this is worth putting on a watch list at least for the time being.

Probably get a better picture as to how many directors take up the rights issue.

cheers
Tekram

Keep waxen the board the wave is coming

Got my offer documents will be taking up my full entitlement 1 for 1 anybody else in? She's in the mail on monday.



cheers

The wave is coming

So Dixon takes his full entitlement 30 million shares at .4c happy to give them $1.2 million bucks, out of small change it seems, for a company that's going nowhere?


cheers

The wave is coming

Hi folks,

DLS ..... trading halt ... expecting some more news/moves for DLS
next week, particularly around 23-24042008 .....

have a great day

paul



=====

Trader Paul,

I posted three times in february got no response. Even got a caution from Joe Blow, Why bother keep it all for yourself know one seems interested.

cheers

The wave is getting closer

Trader Paul said:

Hi folks,

DLS ..... trading halt ... expecting some more news/moves for DLS
next week, particularly around 23-24042008 .....

have a great day

paul


=====

Click to expand...

Hi folks,

DLS/GOG ..... and the news does not get much bigger ... a merger .....

have a great day

paul



=====

I hope there was not any trading of shares by directors of DLS and GOG yesterday (and leading up to the merger)

Hi folks,

DLS ..... have not heard much about this merger with GOG.

Figuring on some positive cycles bringing some news,
over the next couple of weeks:

30052008 ..... minor and positive cycle

02-03062008 ..... 3 significant time cycles to focus positive
spotlight on DLS .....

have a great day

paul



=====

Hi folks,

DLS ..... ticking up, already ..... bring it on ... !~!

have a great weekend

paul



=====

Trader Paul said:

Hi folks,

DLS ..... have not heard much about this merger with GOG.

Figuring on some positive cycles bringing some news,
over the next couple of weeks:

30052008 ..... minor and positive cycle

02-03062008 ..... 3 significant time cycles to focus positive
spotlight on DLS .....

have a great day

paul

=====

Click to expand...

Hi folks,

DLS ... as expected, a nice move today, ahead of some positive
time cycles, due early next week .....

have a great day

paul



=====

Hi folks,

DLS ... took some profits on Friday, as until the merger is
sorted out with GOG, there may be some uncertainty ... ???

..... some DLS cycles, ahead:

27-30062008 ... minor

03072008 ... minor

17072008 ... minor

21072008 ... negative cycle here

22072008 ... minor and positive

01082008 ... minor and positive

04082008 ... positive light on DLS

15-18082008 ... 2 cycles + negative news ???

2708-04092008 ... negative spotlight on DLS,
this could be a very nasty low ???

08-09092008 ... 3 significant cycles to bring
positive news ... ???

have a great weekend

paul



=====

Does anyone have any thoughts on where DLS is heading? I had GOG and so got DLS in the merger, but since then all they have done is head slowly south. They seem like a good small-mid cap oil company to me. In fiscal 08 they had $22.9 mill in sales of oil sales, they expect their volume to increase in 09, they have retired all debt and have $12 mill in cash and have positive cash flow which they expect to fund all development in the foreseeable future. To me, the current share price doesn't seem to reflect the underlying fundamentals of the company.

Re: DLS - Oil/Gas big things coming

this looks good any one uot there know anything
big things in the wind im to late to spot ity or what
looks good time to bay

Re: DLS - Oil/Gas big things coming

george46 said:

this looks good any one uot there know anything
big things in the wind im to late to spot ity or what
looks good time to bay

Click to expand...

Do you mean "anything" apart from the takeover offer from BPT?

That's enough to give it the recent boost, surely?

Any thoughts out there amongst the knowledgeable in ASF land as to why DLS jumped +30% on high volume on friday. Is there another suitor or is BPT able to act like this???:

have been a couple of announcments,

6 August 2009
Drilling about to commence in PEL 91 - SA Cooper Basin
Drillsearch Energy Limited is pleased to announce that the much anticipated two well drilling campaign in PEL
91 of the South Australian Cooper Basin is about to commence. The Ensign Rig 30 is currently moving to the
Chiton-1 location where the well is expected to spud late this Saturday, 8 August 2009. Chiton-1 is the first of
two back-to-back wells to be drilled by Drillsearch and Beach Petroleum in the ‘oil fairway’ on the western
flank of the Cooper Basin. The second well will be Marino-1 (See attached map on following page).
As previously announced, the two well drilling program will target mean recoverable un-risked oil reserves
totalling 3.5 million barrels with P10 upside potential totalling 7.8 million barrels. The primary objective for
both wells is the Namur Sandstone that has proved to be a prolific oil producer at the Christies and
Callawonga oilfields along the same trend in PEL 92 immediately to the south. Recent discoveries at
Parsons-1, Perlubie-1, Perlubie South-1 and Butlers-1 have expanded this trend further to the south and
west. The ‘oil fairway’ is also prognosed to extend to the north to the Wirraway and Growler discoveries in
PEL104, where oil is being produced from the Birkhead Formation, which is a secondary objective in both
wells.
The drilling of these two prospects represents the culmination of several years’ cooperative effort by the
Beach and Drillsearch exploration teams. The Company is cautiously optimistic about the Chiton-1 and
Marino-1 prospects. Because of the significance of these wells to Drillsearch and its shareholders, the Chief
Operating Officer, Chris Carty, will be at the wellsite to monitor the drilling activity and operations and be
available to make any operational decisions that may occur during drilling.
Mr. Brad Lingo, Managing Director of Drillsearch, said “we are extremely pleased to see this drilling program
get underway. It shows that despite the time and effort that both the Drillsearch and Beach management
teams have had to dedicate to dealing with the takeover bid, both companies at the end of the day have the
main game in mind – getting out in the field and exploring for oil. That’s what the shareholder expect from us.”
Mr Carty added “Drillsearch is clearly focussed on getting back to business. Moving ahead with the drilling
program is also a clear demonstration that we continue to maintain a good working relationship with Beach
which we intend to continue to build on going forward. Beside the drilling programme in PEL 91, we have
some big plans we want to get underway with Beach to develop our gas-condensate discoveries in the same
area in PEL 106.”
Interests in PEL 91 and the Chition-1 and Marino-1 wells are Drillsearch 60% and Beach 40%.