Well, well, just look at the action at Perth Basin, with WGO's...

Well, well, just look at the action at Perth Basin, with WGO's share price doubling in short order, with still plenty of apparent headroom.

Since WGO management announced Beach's the initial bid, a range of potential resource buyers have come out of woodwork, and Gina Hancock's been lobbing in gazumping bids.

BLU is not the only majorly undervalued gas resource in Australia, though it has some latent advantages over many.

With the millpond calm in the sector having been broken at Perth Basin. a potential takeover feeding frenzy may be emerging now, with massively cashed up players, both within and previously outside the sector, competing to grab the best opportunities.

This is a brilliant moment for BLU to start confirming and reporting firmed up reserves.

Just in time.

An almost perfect storm on the horizon?

With BLU's freshly reported upgrades grabbing the attention of a stable of determined buyers and backers, and pressure on Govts to do something real about East Coast energy supply.

Or else, if Govt really doesn't want Australia to get off it's backside....an export processing terminal at Townsville?

Foreign finance is ready and willing to secure the essential supplies, and (for example in normally bureaucratically hidebound Germany) has acted uncharacteristically quickly.

Results are imminent, and the drilling program will be ongoing. We're entering a phase now, of potentially massive value realisation d transformation for BLU's SP.