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clock Created with Sketch. 25/03/22
10:25
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Originally posted by Feral54
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In Da Hood has been twisting my arm re BRU, so I just thought I’d pop the question how BRU intend to commercialise their gas. No one has convinced me. The IVZ play in Zimbabwe has many of the same issues but I am expecting a significant corporate move there soon after this trading halt is cleared and I won’t back a wildcat unless free carried which would free up 160k which I was thinking of punting into BRU despite their very long history of failing to deliver. I see a short term spike in SP once the independent report is out followed by a long frustrating decline as euphoria fades and the reality of being another STX sets in. World geopolitics has set up a potential opportunity for WA gas but is billions of dollars and a decade away from production. A lot can happen in 10 yrs. I won’t be investing in BRU gas and I will be advising In Da Hood to only play it for the short term, if at all.
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You are right, WA sovereign risk definitely greater than Zimbabwe or Cuba by a street, although Bolsonaro’s Brazil is safe as houses and Karoon will have doubled production by this time next year and are a money printing machine. Keep working on him, hoodie, he sounds like he is on the verge of cracking, just needs to do some due diligence …
