I hope Santos or the Chinese won't just talk but act.
The current 4c seller may not believe what's in store for BUL but the fact that Santos and BG tried to lock up BPT's gas supply now for in 2 years time confirms my point that someone has to act soon. Maybe BUL won't be the first one to be approached but the others like WCL and COI have already large domestic and international gas players on their register so that for any other interested party BUL would be the one that is easier to deal with when it comes to a JV, assett sale, farm out or t/o.
According to E-Trade Kogas got 6 % and Stanwell less than 10 %. ANZ should be willing to sell its share for a good price, so I can't see any " Poison Pill " problems.
Not to mention the huge size and prime quality of our tenements.
BUL Price at posting:
4.0¢ Sentiment: LT Buy Disclosure: Held
