BUL 7.14% 5.2¢ blue energy limited

No drilling for Blue, we don't like getting our hands dirty......

  1. 170 Posts.
    lightbulb Created with Sketch. 14
    No drilling for Blue, we don't like getting our hands dirty... The only change to our reserves was an upgrade by a 3rd party a few years ago.

    I'm not sure why no one has taken a shot at a takeover. There was some concern about costs in getting gas out of the Bowen basin, but that concern was passed over. I think the reason was that an opportunistic takeover was unlikely to work. Hard to accumulate when it was <5c because the volumes were so small. And a takeover offer would of got knocked back by the Johns anyway.

    JEF (and mates) even made a takeover attempt of Santos but the board told him to go away (didn't get to a shareholder vote). I believe the same would of happened with BUL.
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    Current optimism isn't about how BUL has changed in the last 8 years and a lot more about how the domestic gas market has changed. Basically from around $4 GJ a couple of years ago to around $10 now (supply shortfall).
    Last edited by el tigre: 25/01/18
 
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