Ann: Rafael Flow Test Update, page-169

I think he's mad we might make 50-100% on IVZ but I think BRU is tightly held and been waiting for a company making discovery for some time it could quite easily make $1 and I'm talking this April May coming I feel he might be looking a gift horse in the mouth and about to walk away with his hands in his pockets.

I had to twist his arm for the Cuban play all the while he's saying oil and gas is done and now his retirement is assured with $m's he's able to buy a villa on a tropical island soon but he gets angry if I say which because there aren't many for sale it's a small island lol and not worry about a thing kick back drink some pina coladas. Now he's back on that mantra with gas. I'm sure Eric could set him Straight Gas especially but even oil has 10+ years with soaring demand which is a lifetime on the asx.

Russia has just confirmed gas/LNG will be high and in demand for decades because everyone will want to reduce reliance on Russian energy but they still need energy it's a very serious thing to not heat your home in. a European winter. Yes every country wants to wean itself off coal, then oil, then gas in that order but gas is still used for cooking and heating regardless and very likely to be used as a base load power backup until battery systems become relevant for solar farms but even with batteries it's likely to still be gas/solar/battery hybrid for decades you can use up your stored energy and it's either a black out or you need base load power.

Raphael is the big game changer imo.

I was being glib about Eric fiddling while BRU burned because it has been stuck in the wilderness but over many years Bru / Eric has been doing studies on and talking to who's who in the zoo about:-

1. Solar / Gas hybrid projects to power the Kimberley towns. I'm aware they are / were planning to use the 700bcf at yulleroo for this not Raphael.

2. Sheffield Resources which hopefully the project is green lit end of this month. That's 15Tj of gas a day by itself which is nothing to sneeze at.

3. backfill to NWS which will be very happy to get third party gas from onshore rather than offshore.

4. Coogee chemicals may want to build a fertiliser or Blue Ammonia plant etcetera. Also a game changer is dependence on Russia and Ukraine for fertiliser wise I don't think so well we need our own plants onshore Australia now don't we? Coogee hasn't been sitting on our register as a 10% holder for no reason they want gas to expand their business.

5. It's not out of the realm of possibility that similar to Sun Cable they look to power Singapore and Indonesia via undersea cables as well. The Twigster has a 4% holding as well in BRU.

6. JV partner is Origin and we have Black Mountain Energy also wanting to develop and commercialise gas rapidly all big players with money to back it up.

Anyway I'm not seeing gas become irrelevant over night as Feral thinks and it is certainly not stranded gas, it will be decades before renewables completely take over and even as a short term trader type play the market is white hot and has a hard on for gas and oil right now and BRU is about to announce a large gas / condensate find imo but definitely not investment advice. Walk away with your hand in your pockets and kick rocks if you want. I'll let you know each Christmas about you walking away from a sure thing.

He once used to tout Eric Streitberg as a legend when he invested in Arq and it was bought out by AWE but he's forgotten that a decade ago or more and bagged out my investment in BRU forever and a day so there's some rusted on prejudice there. The canning basin has proved tough to crack for a small company with a big vision hopefully it is about to come to fruition.