I live in Vic, so I am not totally sure just how honored I...

I live in Vic, so I am not totally sure just how honored I should be with a pineapple, but I will take in good faith that it is a very special gift, so cheers for the gift and kind words

@fullmetaljacket - you are indeed correct, I was def being very brief with my summary, but.... @eshmun asked for short and sweet, and that was the best I could knock up in 6mins or so, as I was at work. Without doubt BRU still has huge amount of acreage that has more of the Laurel unconventional tight gas play, but for now, the market is valuing it with a big fat zero, which is fair enough I suppose, as the the current W.A government have their heads in the sand and undertaken frack inquiry no.14. I don't think the market even values Yulleroo at anything more than a slab of beer (even though as I understand it, the conventional gas/liquids could match Ungani). Until the NT group that owns the land want to work with BRU, it may as well be on Mars.

Also, Eshmun is a fairly stoic sort of gentleman, no non-sense, only wants to know about the known factors, not unknown.

As for what Eric might be able to get with the farmin. I am ok with upto 50%, if they cover the well costs etc, then its win win. BRU is small, the prospects are huge. Just one that hits commercial oil will ensure the company doubles its reserves at a minimum and at guess, at least doubles it share price instantly. Sure I would love BRU to go up 10x. But... I also don't want a repeat of the last 7 years, where BRU struggled to fund its own share of the well costs. BRU has raised a hell of a lot of cash since the Mitsubishi farm in (and that is with Mitsubishi paying for a heck of a lot of the conventional drilling)!
Now that I think about it - here are the actual figures! (oh and don't forget, BRU started out with $60m!)
(also, a heap, and I mean a heap of money was spent drilling and proving up the Laurel play) One last caveat, all the numbers in the table are rough, don't include all the admin, 3D seismic etc etc.....!

	Column 1	Column 2	Column 3	Column 4	Column 5
1	Year	Buru cap raising	Buru drill spend	Mitsubishi	Total Spend (conventional)(approx)
2	2010			$10m	$25m
3	2011		$6m	$20m	$26m (discovered Ungani)
4	2012	$40m (this was mainly spent buying acreage)	$5m	$15m	$20m
5	2013	$40m	zero.....	$4m	$4m
6	2014		$7m	$7m	$14m (the rest paid by Apache)
7	2015		$19m	$15m	5 wells (1 100% BRUs) 1 success (Ungani FW)
8	2016
9	2017	$13.5m	$10m		Bye bye Mitsubishi.

Suffice to say, BRU spent $50m of the original money they had, plus raised and spent a further $80m. To date, we have Ungani a total success, Ungani FW, a success, but smaller and Ungani North.. possible success. In actual fact, its a pretty good record when you consider that we have only drilled a total of 8 wells (3 of them without 3D too), with 3 wells a success (I am excluding U2, its a dev well). On a brand new trend.... Anyway, I digress. I very much understand where others are coming from about wanting to take on all the risk and drill 100% BRU ownership, but I also know that BRU is still not strong financially.
I would love to see a lot more 3D seismic undertaken too, but that is not cheap either.

@cruiser51 - you make a fair point about Mitsubishi being a somewhat unwilling partner in regards to exploring the conventional exploration (the table above does however show the did put in a decent amoun of cash), but then any new farmin partner will only have one thing on their mind, finding oil, or perhaps conventional gas & oil. Eric won't make the same mistake twice, he was basically married to Mitsu for almost 7 years. He has learned his lesson.

Ok. Enough rambling. Enjoy the weekend all.