The oil price has stabilised but is still too uncertain and they don't want to sell at a loss so they are planning a long life low cost export route in Broome. They have been successful in their drilling and given us a glimpse of what they have but there is no use diluting us to prove up more of what they already know unless they can sell it at a profit.
In my opinion it would be crazy to accept a takeover offer at this low point in the cycle.
BRU Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
