Ann: Corporate Presentation-BRU.AX, page-86

I agree with most of what you say VH, except for the tight gas being in its early stages.
BRU makes it very clear, they have a basin wide gas accumulation, which has been tested on both ends, 300+km in length. The resources recoverable are truly huge, 4+ billion barrels of liquids with 20-50+ TCF of gas (and possibly much more). Highly pressured, low cO2 etc. Compared to any other play in Australia, other than the Cooper Basin, no one is further along than BRU/Mitsubishi (and as for the Cooper Basin, they lack the wet gas component, plus its all high cO2 and deeper).
Australia has a wealth of gas, the most of it is within the Canning Basin, and, IMHO most importantly, BRU have proven is it recoverable at rates which will prove economic. BRU have no peer.

BRU have said they only need to drill 1 well to dramatically change the amount of contingent gas booked in EP 371. BRU can afford this (estimate the well would cost $10-12 million including the well stimulation, which is only $6m net to BRU). They could get this done and then complete the farm down. Without the need for extra capital.

That all being said, it does not make a difference how amazing the resource is if BRU never go any further to commercialize it.