BUL, page-15

Paddie,
This has been a negative downwards spiral created by a lot of surplus shares on the market. Two very large shareholders had to sell out for various other reasons. Baker's report still remains valid.

It was a pity that a deal could not be done last year. And then over the Christmas/ New Year months things changed. Interested parties suddenly had new management changes/ takeovers etc etc amid a climate when the AEPO (? ) came out and said Australia was okay on gas. Far out ) ( since been proven to be wrong )

Australia is short on gas. And BUL is negotiating.
Everything is fine . Sleep well.