Agree. Maybe I missed a meeting, but the Taz drilling turned...

Agree.

Maybe I missed a meeting, but the Taz drilling turned into a pipeline. The delay in sign off appears to stem from financial G/tees required by the JV.

As for the Aussie plays, its worth contextualising this...the company's entire revenue amounts to about the same as an average CBA directors fee! It simply will not be a factor (other than a steady but modest $trickle) until BUY has the money to seriously develop their local assets.

That cash will come from Taz gas, but may well stay there if thats where its best spent. These microcap oilers bang on about potential, potential means risk and risk goes straight to SH.

Its in the production numbers. Total domestic at 70boepd! vs 360boepd from Tanzania, plus capacity to develop deepwater 'nearology'. Thats 5 x production equivalent.

If microcapos dont get exponential growth from a cornerstone project, they just get hammered by penny traders. BUY seems to have escaped this, and I suspect its because the sentiment dynamics haven't yet kicked in. You need an event for that to happen. If BUY stays on the right side of its balance sheet until the GSA is done, and the news flow is good, there's a lot of pent up cash waiting for any sign of movement in the micro O&G sector.

The sole reason I'm invested here is a debt free balance sheet, a conservative BoD and the African activity, watch that space.



Nothing else will happen until oil is worth the effort of extraction...this company is about to become a gas producer.

IMHO