Frustrating I know for all holders but I think the issue here is that all and sundry got too excited and ran the SP up too quickly in anticipation of a speedy resolution to GSA/pipeline and subsequently some profit taking by retail holders as it has become evident could be and is a drawn out process. There has been no new information to support a drop in the SP. Rather I would like to believe that recent corporate activity on the register will bear fruit. The retail investors have undone the SP. Does anyone think individually/collectively they are better informed than the corporates on the top20 list of SH who have participated in the recent buy from Stanwell Corp. These are those participants. JP Morgan,National Nominees, Horrie Pty, HSBC Cust.Nominees, Girdis Super, HillmortonCust. and BTPortfolio. In addition Citicorp had increased their holding a little earlier and Greig & Harrison (on behalf of clients had two goes initially 5% and then added to that number. So holders that think all those entities are stupid enough to throw big bucks down the dunny better sell now.
BUL Price at posting:
9.6¢ Sentiment: Buy Disclosure: Held
