The drilling process needs to advance and produce more promising...

The drilling process needs to advance and produce more promising results before a full blown takeover eventuates. I forsee BUL targeted for a takeover in the near term unless the acquirer is soley focusing tenements available for drilling. This is one massive asset in BUL's favour, whih is one reason i continue to hold.

Don't forget ANZ is still holding on to there significant holding and would be willing to let it go for a decent price in the short term. However, for the moment, i think the negative overhang of the global ecomony situation will hinder the SP going any further.

Given its reporting season i forcast the DJIA and ASX to fall quite a bit more in the next month as a result of worse than forcasted earnings in the US which will force further selling.

Dont get me wrong i as in at 40c and bought recently again at less than half that, but i will sit out a little longer and hopefully accumulate some more.