pullback for the bubble theorists

Many here wishing for the bubble to burst to get on board. But maybe we are not yet in a bubble? maybe we are not yet ready for a pullback, that this is mostly delayed recognition of the future value of BOW.

I suspect you those still waiting for a pullback to low 30's:
1 Missed out and keep regretting it more - just like those of up that missed the rise and the RISE of PES - even before it had 3P
2 Can't detect the flow of money from PES. Nor that the profits in csg heralded by PES are sucking in money from elsewhere - sure some of it will bubble, but perhaps the bubble is not in BOW, and maybe not even yet at these prices.
3 May have missed the recent presentation, which showed the potential of Comet and Norwich Park. Only a small % of this required to attain another 300PJ to justify current sp on 40c/GJ 3P.
4 Certainly missed section 5.1 in the prospectus which reveals BOW committed $71.5mm over 4 years in order to win the tender for these two permits. These guys are no dummies, yet this is what they thought it worth bidding for these permits. No doubt the application committment was made many months before award - probably long before the PES, STO, ORG, QGC, SHG and AOE deals.

Game's changed, whether pullback now or pullback from over $1. Not many more trains leaving the Qld csg platform, and there's a huge crowd desperate to get on board.

EL