Of course that is the case, but... Twiggy is possibly one of the smartest/toughest business men in Australia and once 50% of the company is bought on market, well, he would stack the board and simply dilute holders into oblivion while using the 3% creep rule. I am not saying this will happen at all, just a possibility. Perhaps a farm-in would suit him better. Who knows. But as for the major holders. Everyone has a price. Especially Eric when, no disrespect, hes getting old in the tooth.
@cruiser51 - I agree with most of what you say, but having only posters that are positive about the stock creates a situation where expectations can only be raised, perhaps past realistic expectations. i.e This stock at one stage, had a market cap of over $800 million. Yet... had much less than what it has now.
You have been in BRU long enough to see/feel some serious financial pain. Without doubt BRU was never going to have the resources to develop the unconventional gas. As it turns out, it has bleed the company over the years, for what in reality was a very small return, i.e Unganis 50% return. Back in the day, BRU should have further farmed down the unconventional, to either Mitsubishi, or whoever, and allowed itself to focus on the conventional oil & gas. Yes, again hindsight, but... Everyone got too greedy, including perhaps Eric (IMHO). My expectations were clearly unrealistic in hindsight too, some of the posts I put up years back show how naive I was.
I really like your thought process in regards to Mitsubishi/Twiggy and (FinderX with its southern exploration). We now have 3 heavy hitters in the basin again, again, almost like in the past. All are focusing on either the wet gas Laurel, the Goldwyer or possibly, the conventional in the south east (as I understand it, that can be the only reason why Twiggy would have grabbed the acreage so far down, no Laurel or Goldwyer formations). All will be undertaking exploration and BRU has a nice slice of the acreage with both the Goldwyer and Laurel. Then we have the unknown factors, like REY and just what the Chinese really want to do in the Canning. They have 100% of the Derby block, with... a huge conventional target that BRU shares. Only time will tell what is possible. As, just maybe, BRU could still beat Mitsubishi/Twiggy/FinderX to the post with a huge conventional resource that would justify a pipeline (there's some speculation to go with the name).
As for the greens/labor. Sigh. grumble is all I can do. Oh how I wish a government like the one in SA ruled in W.A. There would be certainty, logic and regulations that make sense. Not populist crap. I am surprised that to date, I have found to info at all about what the N.T groups in the Canning that are aligned with Mitsubishi think about the Moratorium. Their futures are potentially on the line if further exploration stalls. Still, Mitsubishi could undertake further drilling like BRU planned to (to prove up a further 1.5TCF of gas). Hopefully if such an undertaking was to occur, BRU might inform the market in a newsletter, or general update.
I am happy Eric is moving slowly, but... he has had a lot of time to plan all this (years really). I am happy to say that so far, since the ink was signed on the permit swaps, Eric and the team have shown to be very efficient with their planning and sticking to timelines. That shows a good amount of planning and execution.