If PEP11 is not approved, this whole thing will go down like a deflating balloon with a lead weight attached ... and we will all lose it all - huge risk vs huge reward. BPH will have its biotech, but that's it. I'm at a loss to understand or explain why an extension to the permit goes in only a week before its expiry - that's a fairly monumental snafu if you ask me, but if the Government is fair dinkum about what it says about gas, it will get through.
Australia would be foolish to knock back the potential of tapping gas on the doorstep of its biggest city. (Formerly) each way Albo might have proclaimed Labor's opposition to PEP11 and seems happy to entertain the fantasy of 100% renewables right now, but it's just fantasy. I've been a labour voter most of my life, but Scomo has my vote right now. The technology just does not exist to give up coal or gas yet (or fossil fuels generally), it's as simple as that. Scomo's thoughts on gas have been pretty clear I think.
Not sure how Breeze is the only one to benefit from PDF??? When this thing gets back on track, I think things will get very interesting with the value of our shares, and I will very much look forward to those CGT-free profits.
Why did they fail in 2010? Because there was only seawater in the borehole... That's the way the cookie crumbles as Grandma used to say. But you will be kicking yourself if this time around some gas comes up instead! I intend to sell off 75% of my shares when we get to a certain point and then keep the remaining 25% for the drill.
Good luck anyway!
MMR Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
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