BUL are "prospecting" at this stage but they are prospecting in a large area where coal seams are known to exist. With modern technology they have chosen the most likely places to drill. They may find the sweet spot first up or it may take a few extra drill holes to find it.I'm sure they will find it and it appears that Kogas and Stanwell have that opinion too.
There may be setbacks. This will test the bottle of some investors and the SP may drop in propottion to the disappointment. However BUL will most likely not have to spend too much time proving a resource. Remember they are surveying a pipeline to service the gas fields so plans are in hand to exploit the area as gas is found.
So sit back and let them hasten slowly. If you check back you will see that I said the same thing about CER,VPG,LYC,CNP,OZL not too long ago and they are averaging me around a 400% gain. I'm now concentrating on EDE,ADI and........ BUL.
I hold BUL as one of the "slow and steady wins the race stocks". BUL is in the accumulation stage, check it out this time next year. That is an investors timetable. It may not suit traders. DYOR.
BUL Price at posting:
25.5¢ Sentiment: LT Buy Disclosure: Held
