bul very bullish, page-11

Nursery,

I agree that the environmental aspects played a role in the past months and that the ANZ / Primebroker issue had a huge negative impact on the sp too.

But the reason why I am now bullish on BUL is the gas supply shortage which will become a reality independent of what the world share markets do as LNG will still play a vital part of the energy production in AUS and Asia.

Nuclear is not off the table yet but just one more Fukushima and it will be. Solar, Water and Wind are not sufficient yet to replace coal, so the best alternative to coal, oil and wood will be gas.

Correct, BUL hasn't done much and won't do much to prove up the resource by itself. The plan is, as stated in the last preso, to sell or farm out or JV part or all of the acreage or even to accept a t/o-offer if the price is right. I don't know the purchase price of all shares management holds but I am sure it is not their intention to sell for 10c or lower.

We will know for sure once a big guy starts talking to ANZ to buy their shares. That's when the bidding will see acceleration. I remember too well how AOE,QGC,PES,BOW,ESG got treated by the market and sold always way too early as I was afraid to lose my money. This time I will accumulate as many as possible sub 4c and bought some more today.

1.4c cash backing and the tenements are definitely worth far more than just 2.2c as current sp suggests.

It is a waiting game, this time I will sit back and wait and won't make the same mistakes I did years ago, unless the fundamentals change.