drilling update due soon

We should hear about Sapphire 3 and Monslatt 6 early next week with any luck.

Sapphire 3 is close to the first well they drilled in the western block which hit a lot of coal from memory. And Monslatt 6 is 10 k's south of the nearest well so if this confirms good coal intervals it will mean the 3c figure BUL have is sound imo.

All to say..its a pisser to watch the recovery fading here , but a potential catalyst is not that far off.

As with other regulatory setbacks the hurdles tend to shrink and the relevance of a delay fades of its own accord. As BG has stated I think, they expected to have to deliver more information. Sooner or later STO or BG will announce they will be delivering additional info by x and the setback will be old news.
More significantly , LNG Ltd has been gaining ground all week indicating that something is brewing. They did say end of June I think for some progress on a strategic partner...and having rallied from 36 to 43 it is quite possible something good is coming on that front also.