re: Ann: Weekly Drilling Progress Report Unga...
I agree a lot with smart missile... the fact that there is oil in Ungani N - gives much greater probability of success at Yukka Munga and the other targets... and it is YM that is the largest target and cause everyone to get excited.
I also heard that Ungani North could be 10km wide... so I expect more work to happen on this well.
Finally whether BHP were or werent talking to ES prior to the AGM is irrelevant. He has said on many times that the majors talking to him are forming a queue.... he just doesnt say who these majors are.
But I agree the bottom line is that there will be a farmin in respect of the gas assets - possibly not the oil assets - and it wont happen til after the finalisation of the state agreement.
My only real question is why does Mitsubishi have such an open option over the Gujurat purchase. 60 days have passed, and it is my understanding that the option for Mitsubishi to farm in is reasonably open ended.
BRU Price at posting:
$2.76 Sentiment: LT Buy Disclosure: Held
