As we approach the next BUL AGM in coming weeks, one thinks back to the Chairman's comments at the last AGM when asked about a GSA. He was very hopeful and expectant of a deal and very likely within 6 months of then as we recall.
It's possible, things may not have panned out the way the Chairman hoped and if that is the case it would be disappointing. However, it is also true that deals like this between companies can take a VERY LONG time to formalize, from due diligence at the start, to contract signing. A definitive expression of interest to a signing does not happen overnight.
The company is clearly unable to give a blow-by-blow description of action in this area. What we do know is that the gas environment is only improving for Blue's prospects ... Whilst we are all waiting and wondering "will it ever happen?", we should also remember it may be just around the corner from being completed. This is an equally sound basis of thinking in my book.
.... Half full, half empty? Sell shares or buy more, at this level?
Kip
BUL Price at posting:
6.2¢ Sentiment: Buy Disclosure: Held
