Underthestars,they are not the only way the shorters will get...

Underthestars,
they are not the only way the shorters will get burnt.
BRU has stated that increasing oil production and revenue from Ungani, initially, and then Yulleroo, will fund some degree of ongoing activity without the need for a big cap raising.
Secondly, a new gas sales contract in conjunction with proving up reserves, will enable BRU to debt finance a development.Each of these possibilities could easily occur in the next six months.It wont take much more appraisal for the Alcoa contract to become operational, and BRU's existing cash balance plus the additional contribution from Mitsubishi on exploration/appraisal , plus the liklihood that Mitsubishi will standardise its interests in those permits that are 100% owned by BRU,.......all indicate to me that a cash raising is not about to happen soon.
Another good thing happened over the weekend with the big win by the Barnett Govt . Barnett will not be pressured by the Greens and will ensure that there are no major roadblocks for a BRU development plan, especially as it could deliver a long term source of cheap gas to Perth and the Southwest.