Progress timeline status?

Bell Potter wrote May 3rd - three key points - when will the Cat be out of the bag?

BUL’s MOU with APA to access Bowen Basin gas pipeline
BUL executed an MOU with leading Australian gas pipeline infrastructure group, APA
Group (APA) to negotiate a Gas Transportation Agreement for the delivery of BUL’s Bowen
Basin gas reserves to southern gas markets via a proposed pipeline (Figure 10). The
MOU provides for the following:
• APA is to undertake a Feasibility Study on the pipeline
• APA is to select the Optimal Route for the pipeline
• APA has the option to build, own and operate all in-field infrastructure
The company expects that after further successful negotiation with APA, they would have
detailed design and preferred route options along with detailed cost estimates, which would
ultimately lead to construction of the new pipeline infrastructure that is needed to connect
the Bowen Basin Gas Province to the southern Australian manufacturing and residential
demand centres.