As a review:
I get confidence from:
1.Our cash position.
2.That Roc was prepared to pay alot to get onboard.
3.That a gas resource exists.
4.That fracking should be allowed-as long as science is accepted v mumbo jumbo.
and
5.Importantly its hard to accept that Ungani is the only economic oil accumulation on our leases.
On the other hand theres been a series of failures including the coastal wells,Senagi,Victory,Praslin,U3,UW and who knows about U4 and U5.
Thats an impressive run of outs.
I resisted cutting and running on Monday but if the ST is a miss then I suspect I'll be selling down.
My view is if they can't pick UW and the ST then they've got not much hope and should not be given the benefit of the doubt with Rafa,YM and whatever else.
Stating the bleeding obvious they need a strike very badly.
BRU Price at posting:
22.5¢ Sentiment: Hold Disclosure: Held
