Ann: Operations Update, page-32

I think that you are all being a bit paranoid about who has been selling Bru and what has been their motivation.
Over the last three years there has been nothing but poor execution and bad luck and massive disappointment for long term shareholders .
Potential new shareholders after reviewing the last 3 years would see the same poor execution and SP destruction .
Huge disalusionment on the part of some long term holders ( plenty did not take up their 15 cent shares ) .
Huge skepticism on the part of potential new holders . (May be we should wait and see ).

Sure there would be those thinking there would be plenty of 17 18 cent shares to pick up from the beaten up holders but they have been proven wrong (so far) .

I too have been disappointed that tha SP did not step over the 22.5 23cent wall and head meaningfully higher but for weeks has sat on the lauching pad threatening to crash and burn .However after I got over my disappointment , l sold other shares backed up the truck and started shovelling .
The latest Announcement while really not saying much new , sends a subliminal message .
THINGS ARE DIFFERENT THIS TIME .WE CAN EXECUTE ON TIME AND TO PLAN .

Time is also on the side of Bru .
The pumps will be pumping and a well with a very high chance of success will spud in a little more than 3 weeks .
Yes the well could dissapoint (such are the nature of vuggy dolomite reservoirs ) but it is very very unlikely to be a complete failure .It could also surprise on the upside .

We dont need to get to next year and 3000bpd for the Bru arithmatic to change .
The pumps change it in a couple of weeks .
Undemy 4 changes it within 2 months .

Various market Gurus are supposed to have said .

In the short term sharemarkets are a popularity contest.
In the long term they are a weighing
Machine .

I dont think in this case we have to wait long .