tui, (somehow, using a small "t" upsets my sense of proper...

tui,
(somehow, using a small "t" upsets my sense of proper English! …

You have to be right...

Recently, I went back through all the old BUL announcements (back 10 years) to retrace the drilling history and it was very revealing and following some further investigation, very reassuring.

Many would already know that NSAI, who prepared BUL's resource certification, also assigned reserves to the neighbouring Arrow Energy. They therefore have excellent knowledge of the coal seam that travels from Arrow's block through Sapphire and out again on the other side back into Arrow's tenement. This knowledge along with BUL's own core drills within the Sapphire tenement, enables reserves to be arrived at. The geology is very well understood. This I find very helpful to know.

Many may have forgotten but BUL has spent in excess of $70 million in drilling its tenements. Not an inconsiderable sum .... Monslatt with its 3,000 PJ of 3C resource is of particular interest to the big players, in addition to the 2P and 3P certified at Sapphire.

It seems very obvious that Shell/Arrow which surrounds and cuts through BUL's ATP-814 block(s) must be a serious chance, but are they be playing "funny buggers" currently??? GLNG interests are another (seemingly) obvious candidate who must be checking them out (along with checking out every other gas outfit that has uncommitted gas within coooee of GLNG!! - which they need desperately) … And who knows who else may be sniffing around?

It's a dynamic space and like the frog sitting in the water that is slowly being heated around it, something is going to give sooner or later.

As you say tui, it's "Just a matter of time"

Kip