Guys, it is really looking good. Spoke to Mr. Phillipps who...

Guys, it is really looking good. Spoke to Mr. Phillipps who confirmed :

- 17m cash on hand,

- big guys will build infrastructure through BUL's tenements to deliver their gas to Gladstone with high probability they will drill on BUL's tenements on top of that - BUL creates cashflow just by allowing them to do so

- nearology to producing neighbours will ensure that with their increasing reserves BUL's reserves will be upgraded as well ( this strategy has been mentioned in previous comp anns ) which could result in farm outs / takeover approaches( no talks to others have been confirmed by Mr Phillips ) by the big guys

ANZ controls the shares it holds and has confirmed to management it is interested in LT holding - no sell off to be expected.

Summary : Thanks big seller !