As stated in my last post that this announcement will benefit...

As stated in my last post that this announcement will benefit all shareholders and not just the privileged sophisticated . The raise is for the increase in ownership of Pep 11 from 24% to somewhere around 33-35% subject to how much they raise . This where retail investors will finally get a chance and be in the same race as the sophisticates to benefit from potentially owning one third of the 85% of Pep-11.

So in effect they will end having of a net total of 29-30% of Pep 11 which if the stars align in 9-12 months and we finally drill and hit the bonanza of 6-13 trillion ( 6-13 TFC ) of joules of gas in Pep 11 , there could be a gross end valuation of $30B-$60B worth of retail gas supply . This of course the odds are a long way off for it to succeed as BPH will need to get

1. NOPTA approval - very close any week now. Just a few tiny bits of information required to handed in. Call it done as per announcement today .

1b. finance ? We are a public company and can raise the funds on market or get a cornerstone investor to throw in the $20-30m as they will get a “research development “ refund of 40% if it fails .. tick very soon.

2. Conduct an environmental study and other study requirements required to get the actual drilling. This is the big one needed before the actual drilling to commence. Don’t think that this will easy sailing I live in newcastle and the locals will get very organized and vocal to protest against it. It will in my foresight into the future be eventually get approved but not that quick as one would hope as NSW is desperate for Gas .

3. The actual drilling to take place - well this is the big gamble . This time they will try and avoid the area of the last drill which the drill could not penetrate the ocean rock floor to actual get to the target area.

4. heads If they hit gas ... Goodnight and see you later for all those holding a decent amount of shares . I Don’t want to go there as it’s like winning a Melbourne cup outsider of 100-1 . You life will change that day . Long odds but we are allowed to dream in this end of sharemarket just like a person holding a powerball ticket when the prize is $80 on a Thursday night . It’s free to dream...

4b. tails ; they don’t hit gas...well say good bye to 80-90% of your share price ( by that time it south be $0.10-$0.20 in speculation, so you would have plenty of chances to sell out or reduce exposure and take profit . Don’t be greedy as it could cost you a massive lesson in life .

But wait there is a insurance policy ....cortical ...you may get a nice suprise with this venture so all would not be lost if they did not hit gas

This is a huge opportunity for current shareholders and new ones ( limited gateway to acquire so hurry up..) to increase their shareholding’s and come along for the ride over the next few months .