Spot on Chris, if I may clarify regarding the Alcoa agreement....

Spot on Chris, if I may clarify regarding the Alcoa agreement.

"As a result of the extension, Buru now
has until 1 January 2013 to identify sufficient gas to commence delivery under the GSA."

"If, prior to 1 January 2013, Buru has not made a final investment decision to proceed with a gas development
that would supply sufficient gas to meet its delivery obligations under the GSA, Buru will then be obliged to
repay the Alcoa Prepayment in three equal annual installments commencing on 31 December 2013. The third installment may be satisfied with cash or Buru shares, at Buru’s election. Buru currently holds $23.55 million in escrow in partial satisfaction of Buru’s potential obligation to repay the Alcoa Prepayment."

So... Basically, even if BRU runs out of time by the end of the year, the first payment is approx $14 million to Alcoa. Because BRU has the $23.55 million in escrow - they can almost get away with 2 years of payments.. and if it somehow gets that far down the track... which I cannot believe will occur.. BRU has the option of making the final payment as either Cash - or shares...

So BRU management have always had a solution to the Alcoa agreement. Anyway - Over the next few years, if there is no T/O of BRU (IMO) they will find many TCF of Gas and hundreds of millions of barrels of oil.

Somewhat off topic -
I know that Hot Copper is a public forum, and when you just pick a thread at random, there are always excitable posters posting about 'this company being worth x10' or this company is crazily undervalued.'

Sorry to continue the tradition, but I await with bated breath when finally, a 'professional' (I use the word lightly) brokerage firm publishes a up-to date report on BRU (for all to see). The numbers I have posted in the past, may seem to be wildly optimistic, yet with continued research I feel I am not far off what BRU is capable of.
I almost wonder if it would be worth BRU management getting a professional independent report commissioned, if nothing else to hold as a defensive measure for what is to come.

Companies in the Cooper Basin spout that it is the largest on shore oil and gas production hub. That title will one day be taken away from them....(Even if BPT do find 80 TCF)
(The Canning Basin is capable of so much more).

Good luck to all holders.