Twiggy... sitting in the background., page-224

Hey Sub, firstly I am totally fine with you disagreeing with me. Its actually what makes me participate on HC so regularly. I am mortal, I get things wrong more often than not and in the end, I post and read on HC because I enjoy it. So please do tear apart any posts I make, as you are polite and reasonable about it and well, I appreciate that. All good about the research, just wishing I had done it months ago.

as h00ts posted a little earlier (@h00ts - cheers for the post), while the law may say that stacking a board is not allowed, it can be done (or something akin to it). Another example I would use is actually BRU's neighbor, REY. Once, not so long ago it had an independent board with a focus on actually exploring the Canning Basin, instead... now it is a Chinese shell company, that has for the past 2 years, kept buying its own stock at higher prices than the capital raisings it keeps undertaking. Management were slowly pushed out, current holders diluted and now... well... its just a play thing. So... while I said I respect Twiggy, I am also trying to realistic about his ability to take down a small cap explorer like BRU. @Oil and Gas - cheers I guess, at least I now know exactly what Twiggy wants... 'the lot'. Simple as that. He will have trouble with REY and perhaps Mitsubishi, but then... Buru has more of the Laurel than Mitsubishi, plus Yulleroo and all the conventional oil and gas prospects. I have talked about Buru being a T/O target since Ungani came in, yet if ever Buru had a target on it. Its now.

Sub - You have been a holder for a long time and know full well how positive I am about the dirt BRU holds. Its not the dirt that has let me down (although of course, more discoveries would have helped), its been the oil price, BRUs inability to progress both conventional and unconventional and stuff ups like Ungnai 3 that basically punched the company in the face and ever since its been recovering.
I totally agree with you about Buru needing a little more time. With a bit of luck and a decent oil price, BRU is going to start 2018 with a bang. (fair point about Apache, but... from all my digging, I think there was a little more to it, but... that is history of course).

@cujo - Twiggy is a patient guy... he cannot be sure about the Politicians, no matter how much money he has, they change their policies like the wind changes. Still I agree wholeheartedly, the inquiry will come to the same conclusion as the last one. Hopefully that will at least mean Mitsubishi/FinderX will have around 2 years to get something done. Of course, I can confidently say the market ascribes $$ zero to the current share price for the wet gas assets (even Yulleroo).

Regarding my post on Twiggy getting 50%. If he put an open order at $0.40 tomorrow and just left it... how many shares would he get? 25% of all shares would be in the money to the tune of 266%. Yes, many would not sell, but... hard to ignore that sort of return. Anyway, its pure speculation, but... after doing my digging/research, to see just how much of the Canning he already has, plus what he is applying for, well what is stopping him making a move now? Yes, some posters say that shareholders won't sell. Sorry, even Eric will sell, I know for a fact that back in the day, he a price in mind if a number was put forward (I am not going to say what it was, but it was obviously a lot more than the current share price. He is a holder like everyone else to make money. He has done the hard yards and lead the company when many thought him a loony and the Canning hole with nothing in it).

@CEOChair - Perhaps you are right, Twiggy will get his foot in the door with BRU by farming in, although I imagine that Eric will be able to garner a very suitable equity share versus funding. Obviously discussions are ongoing as we speak, as the last presentation mentions that.
As for what Twiggy would do, if he was able to secure Buru's acreage, I am fairly confident that he would hire a team of professionals to do what needs to be done. ha, he could probably hire Eric for consultant work to boot. I really hope that its not Twiggy who we partner with, I would much prefer the likes of BPT who are proven professionals in petroleum exploration. But... on the other hand, will BRU hold onto operator-ship if a farm-in occurs? I assume Eric would prefer that, but... with the POO still somewhat low, who will have the stronger position, before the capital raising I would have said not BRU, now... I think its swung back. Lastly on this topic, after reading others thoughts, perhaps REY will do a small J/V with BRU to drill the norther prospects, which will ensure they stay off the register). Anyway, just have to wait and see of course. I might skip discussing polygamy, hope that alright?

@JustSayin - great post and I admit that I had almost forgotten about Coogee, plus your info about Eric and the minister and your overall thoughts on Twiggy. Coogee and the tanks makes perfect sense. I was also thinking why they bothered with Wyndham at all, and of course, it was because until the middle of the year, Mitsubishi were still 50% holders and probably did not give a toss about the conventional, as long as it did not cost them any more $$$.

@cruiser51 - I am not sure why you are getting so frustrated with my or others thoughts. I am just sharing my opinion, don't like it, no worries, but saying that I am self serving, borderline stupid and basically a dick seems a bit over the top. What is self serving about wanting to make my money back on BRU? Anyway, I will do my best to discuss the stock, without being overly positive, as this is a forum, which has, very little effect on the market, if any.

@thisisit - Agree, its a solid feeling know that Twiggy wants what I have (a small % of it the total anyway, ha).

When going through the presentations, BRU states it now has $27m, with the first shipment, we should now have just shy of $30m. E/V is just $50m now!

Sorry all for the long post. Been quite a while that we have had this level of discussion and I appreciate everyone's views.