Despite the US shale gas boom many over there struggle to extract the oil / gas and their sp went down ( SSN,GGE,GGP,BCC,AKK,TTE and in WA NWE ).
QLD has CSG which needs fracking too but is much easier to handle as the CSG is close to the surface compared to the shale depths of 1-5km.
It won't take long until BUL gets the offers and proposals.
Just 1% taken of the certified 3C inground value justifies a sp of 20c, on top of that the 15m in the bank.
When it runs it runs hard but as so often it takes a big guy buying to convince the herd. Yesterday saw a huge uptake of the offered cheap shares, someone is happy to pick up what will be soon very expensive.
BUL Price at posting:
3.6¢ Sentiment: LT Buy Disclosure: Held