Ann: Corporate Presentation-BRU.AX, page-280

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WhiteNoise

6,650 Posts.

19/09/16

21:45

Post #: 19266896
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Originally posted by bhutos ↑

Thanks but unfortunately I have to be more boring than I want when people are TOU hysterical here. I can take whatever is thrown at me without jumping on the TOU button because I find it almost impossible to take offense from people when they aren't proving to be knowledgeable enough to offend me - I might swear at a mosquito when it bites me but that's because those little buggers actually get under your skin. Besides I don't think there is anything I could say to harm someone's reputation more than their own words and actions.

Re: BRU, they all but said in the last announcement nothing was happening on the drilling front which is mostly what I'm interested in. During the "silence" the only tangible thing we had to go on was them progressing Ophir and Praslin North with government approvals so there had to be a good chance those drills were getting up (but not good enough obviously). Now there is nothing concrete to go off I think it's best to set your sights low and be happily surprised by anything rather than set them high and hope but not get anything for another three months+. It's a bad year for everyone in the sector and we're not out of it yet. Again I'm kind of biased in that I'm not really underwater on my trades on it so I can be a bit more flippant, I would be crappier about everything if I was staring at a worse figure every day, but I think they've left it late enough in the year to say they aren't doing much that they're just going to ride it out. Even the data they're going over will take until the end of the quarter. I'd be happier with an early surprise but I think it's more prudent just to batten down the hatches.

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Agreed.

But the quarterly cash burn is still huge

So if I was them I would produce oil to hid the salary bill.

Going no where

Last edited by WhiteNoise: 19/09/16

BRU Price at posting: 19.0¢ Sentiment: Buy Disclosure: Held
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Ann: Corporate Presentation-BRU.AX, page-280

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