i am in for my full entitlment today, thrice over actually.
I know BUL doesnt get that much coverage on HC, however, there are a couple of fundamentals that haev changed for them and I now believe that there prospects may be turning for the better for two simple reasons:
1. The new management and ops staff are top notch and have extensive experience in dealing with the Surat basin and should serve them well.
2. They have a very clear tiered strategy that should build not only a solid reserves position, but also move them towards being able to raise more capital and exploit their larger resources in both 813 and also explore the potential in PNG
I have previously sold down a considerable portion of Blue, however I feel the company is starting to ripen and this may be the first of many longer term positions I am going to take in Blue. Lets see how the first series of drills go into 854 first. And then hopefully they can strike some good coals eadt of Dalby!
SF
BUL Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
