It was a good deal for BPT-these guys don't seem to do much wrong in my opinion.
That's 2 significant deals in the space of a few days, and I think more is on the way. Perhaps the Majors are starting to realize that China and Japan are looking for a stable supply of gas for decades to come.
This is a long term investment, but if you are prepared to stick it out it could be very rewarding.
I expect the deal activity will start to rub off on to the other shale/tight gas players over the course of the weeks and months ahead.
Good luck to NSE holders. I'm fully into BRU, and a little bit into BPT, but if I had more money, I think I would be getting into NSE at this level-it's early days yet. In fact, just this morning I was reading the first presentation on Buru's website from back in 2008. They started with quite a lot of cash and plenty of optimism, but within a couple of years, and a few disappointing results, the cash had dwindled and the SP was languishing. Things were looking so bleak ES tried to take the company private. But then along came Mitsubishi and Ungani. Just goes to show things can change very quickly in this business if you are in the right area.
NSE Price at posting:
21.0¢ Sentiment: None Disclosure: Not Held
