rb milestone’s enewsletter june 13

Hi all


This was send to me as I don't hold BUL, I thought that you all might want to read this, good luck with you investment with BUL.


Company Profile: Blue Energy Limited
(ASX: BUL)
Blue Energy is a rapidly evolving energy exploration company strategically positioned with abundant coal seam gas (CSG) assets through-out Queensland to meet the rising demand for cleaner power.
Blue Energy has a vision to be Australia’s leading mid-sized coal seam gas exploration and production company and to build a 3P reserve base of 3,000 PJ's by year end 2014.
A vision underpinned by Queensland Government policy, Australia’s move to a cleaner, more efficient fuel source and the advent of a national carbon trading scheme.
Since listing on the ASX in June 2006, Blue Energy has worked hard to establish a solid operational foundation with an experienced board and technical team. We believe our teams experience and skills have the ability to enable Blue Energy as one of the leaders in our indus-try. Given the experience and knowledge base our team possesses, it holds Blue Energy in high regard to effectively execute its explora-tion strategy.
Blue Energy’s exploration focus is to leverage from the attractive geology and location of its majority-owned and operated CSG assets.
John Phillips, Chief Executive Officer & Managing Director

John joined Blue Energy as Chief Operating Officer in May 2009, was promoted to CEO in April 2010 and joined the Board of Blue Energy in June 2010. John's 26 years in the oil and gas industry has involved conventional O&G and CSG experience, in a variety of petroleum basins both domestically and internationally. He has gained extensive operational experience through his involvement with Delhi Petroleum, Esso, Conoco, Petroz and Novus, culminating in his role as Chief Operating Officer with Sunshine Gas, where his role included taking a lead in initial studies for the SUN LNG Project with Sojitz Corp and the Reserves Certification process and FEED study for CSG developments.

Q&A with John Phillips, CEO & Managing Director
Blue Energy Limited
Q: Please highlight Blue Energy’s recent developments.
A: Blue Energy’s wholly owned subsidiary Eureka Petroleum Pty Ltd. has been nominated as the preferred tenderer for 3 huge blocks in the Georgina Basin (Western Queensland) and 1 exploration block in the Carpentaria Basin, both of which have large shale gas resource potential. See our May 24, 2012 Press Release for more information.
Q: What are Blue Energy’s plans for the second half of 2012?
A: (1) Continue production testing of the Monslatt wells (ATP814P). (2) Complete and test the Sapphire 4 pilot test well, and (3) drill a new pilot test well - Sapphire 5 (ATP814P). (4) Commence work in the Maryborough Basin shale gas play, contingent on government award of the permits
Q: Please discuss the company’s cash position and value of investments.
A: Blue Energy secured significant funding in the April, with the placement of 160 million ordinary shares to professional inves-tors, which raised $10 million with a further $13.6 million raised from a share purchase plan for existing shareholders. The place-ment, and appointment of Mr. John Ellice-Flint, was approved at a shareholder meeting on 14 April 2012. Accordingly, Blue Ener-gy’s cash position at the end of April was $25.4 million. Please see our quarterly update here for additional information and fig-ures.
Q: What projects do you currently have, and at what stages are they?
A: All our projects are in the exploration/appraisal stages - we have a number of permits for coal seam gas and shale gas, as well as acreage in all Queensland producing basins and 3 frontier basins. Our vision is to have 3,000 PJ’s 3P by YE 2014.
Q: What distinguishes your company from competitors?
A: Blue has a very diverse acreage portfolio covering CSG, shale gas and conventional potential. Additionally, Blue has a very large acreage position over several different producing basins in close proximity to existing and planned infrastructure for up-stream gas supply for the major Gladstone LNG projects.
Q: Who are the key players on your management team, and what kind of experience do they bring to the table?
A: We recently appointed John Ellice-Flint as Technical Director – John has 26 years’ experience with Unocal in senior manage-ment positions globally. More recently, John was Managing Director of Santos and is considered the father of the east coast CSG to LNG business now under development with up to 6 LNG trains under construction in Gladstone.
The Managing Director and CEO, Mr John Phillips, has 27 years of industry experience covering technical and managerial roles in Coal Seam Gas and conventional exploration and production, both in Australia and internationally.
Q: Who are the major shareholders of Blue Energy?
A: Our major shareholders include: ANZ, Mathews Capital, Stanwell Corporation and KOGAS, as well as new supportive inves-tors in the top 20, following our recent placement this spring.
Q: What growth prospects does Blue Energy have? Are there any other key developments?
A: The Maryborough Basin has strong shale gas potential, and we are awaiting a permit award by the Government adjacent to Gladstone. Additionally, we have secured permits for the Georgina Basin, where there is also enormous shale gas potential


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