Originally posted by kiwitrev:
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I don't care much about the issue of rights, I focus my attention on the outcome for BUL (positive or negative) and in any event if the company is not successful what are these rights worth. If successful everyone makes $. SH have clearly taken their position on the company's prospects and those with a negative view should consider exiting the stock. Like everyone else I do not and cannot know how it's going to turn out but can only weigh up the evidence before us. Regarding points made in JEF letter about a GSA I make the following comments.
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I forgot to mention the obvious, that is, the pipeline will be central to any GSA negotiations. APA have costed it at $800m so totally removes BUL from any role in it from a direct financial perspective. I was fascinated this morning to watch Alan Finkel interviewed by David Speers on various aspects of energy options for the future. He was very supportive of natural gas as a transition fuel over say next 20-30 years and this view is included in "The Finkel Report". The other event upcoming will be Angus Taylor's report on the Fed. Govt. energy strategy due to be released after the Wentworth by-election. Should be interesting.
