Nice to hear from you Paddington. I too have been pondering about buying more BUL. Their value and reserves etc have not changed. In fact they have only got better. Recent reports are highlighting a growing sense of urgency re gas supplies and I see that the talk of import terminals has gone quiet.
Almost a year ago we were enjoying a fantastic buying spree that took us at one stage to 20 cents. And there was big buying.
Since then we have had
1. Two major shareholders sell out. Not for price reasons. Just other reasons.
2. Institutions and others bought in and have churned BUL lower.
3. The CSG Industry has suffered a bit of confidence. Read moratoriums etc.
4. Arrow and Shell have not helped things by steadfastly refusing to develop their Bowen basin permits . Pressure is mounting.
And APA have a Chinese offer which believe it or not may get approved. All they need now is FIRB. ( imagine Australia's gas industry infrastructure being in foreign hands.???? )
I too think the time is right to revisit BUL. Sooner or later someone will sign a contract that will give credence to the buying that went on last year. It would be good if they could get it done by the November AGM.
Nice to hear from you.
BUL Price at posting:
7.3¢ Sentiment: Buy Disclosure: Held
