I adapted it from the NSE thread. So credit to the NSE...

I adapted it from the NSE thread. So credit to the NSE holders.

BRU have came out with some huge shale gas results located in the Canning Superbasin, North of W.A. over the last month. This has resulted in a number of approaches by international majors with joint venture proposals (http://www.buruenergy.com/getfile/640.pdf, http://www.buruenergy.com/getfile/649.pdf). This has resulted in the smaller plays such as NSE and OBL to be re-rated accordingly.

Now NSE and OBL are both next to BRU. Hence 'nearology' factor is appreciating the 2 companies share prices.

Check out OBL's latest presentation which shows their Blackreef project north of BRU's projects and how they have exposure to the Canning Basin:
http://www.oilbasins.com.au/OBL%20Investor%20Presentation%20-%2019%20March%202012.pdf

Hope this helps Yaggy-Bear, just a bit of reading putting one and one together. Bit like the Coal Seam Gas boom in Queensland years back (how you had QGC, BOW, Arrow Energy etc).