ESG taken by STO for $0.50/GJ 3P.BOW heading in the same...

ESG taken by STO for $0.50/GJ 3P.

BOW heading in the same direction as ESG. Expect to see a higher offer from Arrow. BOW's proximity to Arrow's assets is its strategic advantage.

Major points of note for BUL:

1) The ESG/STO and BOW/AOE transactions will still not deliver the required reserves to cover the stated LNG train capacity
2) LNG players will continue to look for strategic acreage
3) BUL's Maryborough Basin has received unsolicited interest from 3rd parties
4) BUL aggressively converting contingent resources to reserves as a short term priority to create asset value
5) Monslatt 9 drilling program to begin soon

BUL looking bullish on the monthly. MACD ready to signal a medium/long term buy;