Interesting that Eric mentioned the cattle station. It does indeed have a asset value of close to $7 million gross. I doubt they would sell it, but I suppose they could possible sell their 50% to Mitsu in some sort of deal if they needed a couple of million $.
As Eric says, the Ungani trend in its entirety is prospective. I really would like BRU to provide some real idea of just how many prospects. Nothing wrong with eliciting a little extra interest in BRUs acreage. Drillsearch and Senex in the Cooper have been quite happy to provide the market with a full picture of the hundreds of targets in their basin......
Victory and Senagni have met the required work program for the two central tenements, but I wonder what the 3rd years requirements are. I would much prefer BRU to focus on drilling around Ungani etc. Just makes economic sense (except for maybe 1 or 2 wild cat wells in the Accacia - I can dream!)
BRU Price at posting:
24.5¢ Sentiment: Buy Disclosure: Held
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