Nice try Chris, but I think you'd be better advised to leave that genie in the bottle on the back of the envelope awhile yet! LOL.
The current JV with Mitsubishi allows for 80/20 on all exploration, ie Ungani 1, but reverts to 50/50 on appraisal or production wells ie Ungani 2..3 etc.
The option recently taken my Mitsubishi confirmed its commitment to fund A$40 million of the first A$50 million spent on "unconventional exploration" by the joint venture in 2012. It is thought it will focus on the delineation and appraisal of the Valhalla and Yulleroo tight gas accumulations.
BRU Price at posting:
$1.30 Sentiment: Hold Disclosure: Held
