mrriesq, very well put, reflexs my thinking as well. I am very pissed off with the proposed SPP. Not so much with the new appointment but with BUL's complete and utter disregard for their bigger shareholders who have supported them in the past.
Under the proposed SPP I stand to gain just as much as someone who just bought 1,000 shares in the beginning of Feb. To avoid dilution I may have to buy from the open market at a 50% premium. This is bullshit.
As you had pointed out, many of us had bought sizeable whacks at a far higher price of 6.5 cents in the past, what's this SPP going to do for us? How's Kogas and Stanwell going to feel? Piss them off and where is the next trench of funding going to come from??
Obviously BUL must have taken legal advise and I suspect this may be the reason in the delay. Legally, it may be ok but it sure has dented serious long term investors confidence in the Company.
BUL Price at posting:
9.2¢ Sentiment: None Disclosure: Held
