SS,
I agree it will take the Majors a long time to make this work at these prices . These Majors have layers of overheads. It will take a while but the oil price ( and LNG ) will rise again.
Fortunately BUL has a very lean base and has their management has previous experience in producing CSG. Their reserves have been certified by the same certifier as Arrow. Whilst the Gladstone option is sometime away they are currently fielding several proximate supply enquiries from needy customers. BUL has the ability to supply low cost gas.
Let's hope they can get some supply contracts this year.
BUL Price at posting:
2.2¢ Sentiment: Buy Disclosure: Held
