Steini, 10 cents is a very conservative value.CSG in Queensland...

Steini, 10 cents is a very conservative value.

CSG in Queensland is currently under the Chinese's radar. In January 2013 PETROCHINA become the first Chinese company to bid $185 million for a CSG juniour miner in Queensland acquiring 50% of its CSG asset. The potential for further growth has buyers willing to pay hefty premium. The Chinese is not looking at your lifetime, they are thinking in terms of their grandchildren’s children.

and demand of CSG doesn't come just from Gladstone but NSW and Victoria as well. As stated by ACIL "The effect of CSG ban in NSW and the absence of a growing CSG supply would bring gas shortage in NSW and Victoria.Supply contracts will be more difficult to renew once Queensland's CSG projects are online in 2014 and fuel switching from coal to cleaner gas is under way in Victoria".

Bul is debt free,plenty of cash,own 100% of its asset and have largest acreage of conventional oil and gas in Queensland. Its "tenement parking" in the gas-rich basin in Queensland has locked out other majors and opponents from securing further permits.

Rio and BHP once ridiculed FMG as is in the business of real estate,not mining due to its huge locked unexplored area in Pilbarra. As we get closer and closer to the end of 2013, i would be hoping Santos would say the same to BUL as what BHP & RIO said to FMG :)