I actually look at the announcement as a positive. BLU has not done very much for several years in regard to the Galilee Basin and I doubt shareholder put much value in that part of the assets anyway. Now BLU can concentrate their efforts on the Bowen Basin. There should be positive updates coming in the next weeks/months which will assist. When BLU gets their RND refund from the government they will have plenty of funds moving forward.
I totally agree the state and federal governments are useless but there will be the day and it is coming when they have to move forward with gas. Right now Albo in his great wisdom is concentrating on his personal legacy of the voice which will fail. Once that is over he will be forced to actually do something for the Australian people because if he doesn't or he keeps on the way he is going, he is gone!
I actually have bought more as I see this as an opportunity as the basics of BLU and its value have not changed. The gas is there and the reserves should be upgraded soon and gas is needed now! Anyway that is my thoughts
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- Ann: Galilee Basin Potential Commercial Area Decision by Qld Govt
Ann: Galilee Basin Potential Commercial Area Decision by Qld Govt, page-38
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