(1) You said "....if this is the case the guy next door would have bought the land in the first place, why leave it to BUL??"
Let me ask you the same question why BHP and RIO are not the biggest tenements holder in Pilbarra,why leave it to Fortescue FMG or to Atlas iron? To answer i shall quote a report from Australian Finanical review "In mining a complicated tactic to lock up the land and avoid using it is called "tenement parking" and Fortescue is an exemplary practitioner,having locked up as much as 57000 square kilometres of land in Pilbarra. It’s barely legal rent and tax free. Tenement parking has been used by some of the miners to stifle competition by locking out opponents from the heart of the mining boom in the mineral-rich area and not limited to iron ore reserves, nor the Pilbara, but all over the country" (AFR title "Twiggy's land grab")
(2) If it is a certainty that BUL has a lot of commercially viable gas why didn't Kogas excercise it's option to farm in?
to answer your question, i shall quote a statement from Blue energy on its quarterly report dated January 2013 "The Company has been notified by KOGAS that it intends to exercise its farm-in option in relation to ATP814P"
Vincent191, may i suggest you do further research on BUL, coal seam gas and gladstone...i cant keep answering all your question as i found it a waste of time since most of the answer are available online and if you have done your research.
BUL Price at posting:
3.9¢ Sentiment: Buy Disclosure: Held
