Agreed, there actually seems to be a bit of a plan unfolding....

Agreed, there actually seems to be a bit of a plan unfolding. The thing that grabbed me was the progress on the Cultural Heritage discussions and the Permits in the Maryborough / shale region. If BUL can progress with the shale tenement then that will really put the company on the map - only last week STO managed to get first commercial flows in SA from shale gas, so it's game on.

2 things need addressing to settle some nerves:

1. ODIN settlement - does the $20M in cash at end of September account for the settlement monies (if any) paid to ODIN? Perhaps there is no fiscal exposure - a tenement deal may have been done. In any case, investors should be able to know what our exposure was and how it impacts BUL going forward. I'm surprised they can even do this without disclosure...

2. What is the plan to prove up reserves - are they planning to release any opdates this calander year? The plan to drill Sapphire 5 is good - but when does that turn into bankable PJs?

Given the progression with WCL (possible deal within a month), can't help but wonder what BUL would need to do to get snapped up. Would have to be the last of the uncontracted CSG players left.