From memory, Coogee signed up in the hopes of getting gas out of...

From memory, Coogee signed up in the hopes of getting gas out of Laurel. Two years later and we've spent that money and they're no closer to seeing any of that gas. I think they'd cop a $10M loss if it gave them a chance of seeing some gas.

$1.50 would be lovely, but we're not going to see that without oil production restarting and a drill in the ground. The former looks unlikely in the near term with the oil price stalling and the AUD going up, and without production we don't have the money for very much drilling.

If there's not some more activity in the next few months, BRU could get another shellacking as we move into tax loss selling next year.