Hi Zacky..234,204,477 Fully Paid Ordinary Shares on list plus...

Hi Zacky..

234,204,477 Fully Paid Ordinary Shares on list plus 13.8 million options all in the money. $3.50 will value the company at roughly 870 million. It's not out the question. Lots of work to still do but things are moving very quickly.

The majority of BRU's options are to be expired by the end of 2013..this will bring in roughly 11 million as they are all well in the money.

18 million shares held in NSE. NSE will continue its upwards run IMO. BRU's NSE holding currently valued at just over 9 million.

Cash at Bank = 28.2 million
BRU's exporation expenditure for 2012 will be 10 million. 40 million will be funded by Mitsubishi.

NOTE : This may change if Eric decides to aggresively explore our 100% owned licenses.

Any net profit will be divided 50/50 with Mitsubishi.

If Valhalla comes through with the goods along with Yulleroo we will have more than enough GAS to meet the Alcoa Gas Supply Agreement. We will then bank and additional 23.5 million in escrow.

The positives for BRU are impressive. Just over a week ago we acquired some extremely prospective licenses adjacent to the Ungani discovery and Valhalla Accumulation. What will these licenses be valued at if Ungani and Valhalla both come through with large discoveries? Over this short time frame this is one of the best runs in a stock I have held. I am extremely happy to be part of it.

When you summarise all the positives it's easy to see why we are running so hard...and fast too! I'm looking forward to the next drilling report on Valhalla.