Originally posted by Paddie5
RLE is in the process of certifying reserves, they are close to infrastructure and have tie in agreements wth Santos and Beach.
BUL is not close to infrastructure and needs a pipeline to get it's gas to markets. It has neither a pipeline or GSA agreement despite trying for well over two years. Again certfied reserves are fine, but they need to getheir gas to markets which they are proving is not easy.
I invested in both BUL and RLE 18 months ago. My expectation was that BUL, with proven reserves, would rise first, and very suddenly on the back of an imminent deal, and then I may roll some the profit into RLE and others.
One 7 bagger rolled into another 7 bagger sounds nearly good as winning lotto, and a lot more likely.
Well so far this plan "sort of worked", ummm, for a while, at least ..... I had a near 200% profit on BUL at end 2017. "Could have" sold then,,,,,, But we all know the history.
Now it's looking more and more like RLE will move first. But I've left a good wodge in BUL as BUL could just happen with one ann - the deal management has implied is imminent.
Time will work it's magic - though the wait on both has been longer than anticipated I remain very positive on the potential gains from these underpriced gas resources.
