Was holding off posting so I didn't jinx the stock before we had...

Was holding off posting so I didn't jinx the stock before we had an update from statoil & petrofrontier about their drill results.

NSW has with the decision to stop MEL drilling two days out from the arrival of a rig has turned the State into a no-go zone for CSG - it smacks of a political quick fix.

Thus making it unfriendly to energy hungry industries, mining & O&G. Why is that good for BUL? well we aren't in NSW and both sides of politics in QLD are on-board with this industry unlike NSW who are running scared.

I also note WCL is being headhunted - so with not too much left on the board and our SP being so low, I wouldn't discount us being taken out.

NSW imports 95% of it's gas and has been told to frack off if it needs gas from other states after 2016, it seems to me we are nearer the end than the beginning for energy security of the majors - best to all Bon Swar.