"substantially undervalued", page-21

Firstly, may I ask BRU readers for a moment in this small retort?

Hello Footy, a shame you have decided to bring your OBL frustration and disappointment to the BRU threads. Yet I do enjoy providing a rebuttal. I will focus on the stock, instead of the poster.

BRU has the envious position of being able to drill and actually find oil and gas. OBL has not been so 'lucky'.

Not sure if you have read up on the OBL Hot Copper threads for the past 4 years.. I did. I teach history and as such enjoy reading through the years of posts on a stock, it gives me some perspective on the overall view of the stock, what it promised, what it delivered and why it is priced they way it is currently.

Well.. OBL is indeed an excellent read! A tale of woe, highs lows, desperation, hope and crushing disappointment. Not sure if you have noticed, but the simple graph that can be viewed thought google finance;
Shows that since Sept 2006 (6 year period)
OBL has sadly only destroyed shareholder value...
To the tune of negative %75.65!
That is a return of year on year, -%12.6

Wow.

Now, lets have a look at BRU over the same period, of course, BRU is a newer company.
Sept 2008 (4 year period)
To the tune of positive %930.53!
That is a return of year on year, +%232.3

Now I realise that for some OBL holders this may be viewed as kicking the boot in. But after my oh so warm welcome to the OBL threads from some posters, I have decided to not be Mr Nice guy for a change.

The list of negatives you provide footy can be met with clear and obvious solutions, of which BRU has planned for....

Alcoa Gas Agreement - $40 million pre payment for development.
Mitsubishi J/V - $50 million for development funding plus the fact that as %50 J/V partners, %50 of costs will be born by a company with a Market cap of $29.6 Billion. Mitsubishi have also in many cases, provided good access for debt funding for companies that they have partnered with.

Your implication that BRU has an 'issue' of having too much acreage that won't ALL contain productive oil and gas.. hmm.. I am pretty sure having 'more' acreage is a positive in regards to most oil and gas stocks.

Anyway, thanks to all BRU holders for your indulgence.

As a aside;
There are some really great posters on the OBL (Bhutos etc) threads btw, some who have been with the stock for years. I respect their continuous support for the stock. I do infact hope that loyal OBL share holders do get a decent return, but I know which company I want my money in.