All true. Two reasons I’m more interested in this one than any other, apart from owning a significant chunk of the next door neighbours who used to own the project, being BRU/Mitsubishi already explored for, found and defined the gas, so we know it’s there (prospective gas resources of 11.8 trillion cubic feet (TCF) and contingent gas resources of 1.5 TCF according to QR) so BME’s job from this point is confirming a 3P resource, building the infrastructure and sales and the X-factor that Rhett Bennett & team bring both in terms of proven operational experience and standout promotional ability.
Question (probably stupid) for anyone: the IPO was for 55m shares and the parent company hold another 200m. Now, if I didn’t know that because I read the prospectus, if I was a new investor sometime in the future, checking them out on Commsec or whichever broker I use, how would I know this if I didn’t read all the way back to Anns on the first day of trading? I can’t see any kind of code or other alert that trading in this stock is not for the entire company and I’ve waded through all the tabs, but all I see is 55m SOI at 12c with a $6.88m MC… it makes me wonder if I have been trading any other stocks all these years and it’s never occurred to me maybe I don’t know some other entity owns a majority stake that isn’t traded on the ASX? Anyone know what I’m missing here? Seems like vital information. Might give Commsec a bell if nobody knows, but seems like it must be staring me in the face, I just don’t know where to look… ?
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