# BLU - Blue Energy



## vine (7 December 2007)

I am new to investing and purchased some BUL shares a few months ago when I saw that CVC invested $30m in the company. Since then its been fairly ordinary and down about 20% to what I paid. can anyone give me any idea of what is happening to them and there prospects and is it worth hanging in there- thanks


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## Jimminy (8 December 2007)

they have got good management and I know the exploration manager from my business dealings with QGC..... he came from QGC and now heads up Blue's exploration activities.

It'll may be a performer over the coming years - just hovering about for now.


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## Jimminy (2 May 2008)

Jimminy said:


> It'll may be a performer over the coming years - just hovering about for now.




I am still amazed that this stock has no coverage from people on here.

I have recently taken a position in this co. and believe we will continue to see a significant rerating of this stock in the next 6 months. Check out their land, their staff, and the neighbours of these tenements and you get the picture that CVC has been very astute in buying into this co.

Check it out people - it is a sleeper at present. Not a sleeper today by any standard, but at 30c still an absolute steal.


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## prawn_86 (2 May 2008)

Jimminy,

Instead of trying to ramp the stock could you please provide some analysis to support your opinion that it is such a good stock.

Fundamental info on projects, summaries on management etc etc.

Or post a chart with technicals on it if that is how you invest.

Or do both 

Thanks

Prawn


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## Muschu (2 May 2008)

BUL is certainly having a good run these past few days.  I don't have any and don't plan to get any.


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## Jimminy (2 May 2008)

prawn_86 said:


> Jimminy,
> 
> Instead of trying to ramp the stock could you please provide some analysis to support your opinion that it is such a good stock.




ok ok - guilty as charged.  Reading back I was a little excited at the rise today and should have refrained a little. Apologies.

But I do find it hard to understand that basically there is no holders of this stock on here when csm plays are in favour.

As for anaylsis, I pointed out what they need to examine. I'll leave that to people's own devices.


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## Jimminy (16 May 2008)

CSG acreage east of Injune has returned positive desorption results.

The cores and well data they've taken have allowed for the areas to now have a target of 250Pj. 

With a high pressure pipeline running directly through the block it is a great announcement. Now to extend their knowledge of this area and hopefully increase the target over time. 

Well done Blue Energy.

Soon enough people on here will notice the one getting away.


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## Dukey (2 June 2008)

[FONT=&quot]OK Jimminy - here's some summary info you could have posted long ago to get some interest!![/FONT]

[FONT=&quot]BUL Blue Energy            [/FONT]

  [FONT=&quot](from www.blueenergy.com.au and BUL announcements to ASX)
This .pdf presentation makes interesting reading : http://www.blueenergy.com.au/announcements/080222_BUL_US_Presentation.pdf
[/FONT]   
  [FONT=&quot]Staff – 3 ex QGC people plus other experienced personnel[/FONT]
  -[FONT=&quot]CEO Bill Williams; [/FONT]
  -[FONT=&quot]COO Ray Johnson [/FONT]
  -[FONT=&quot]Bruce Anderson.[/FONT]
  -[FONT=&quot]MD Sharif Oussa - geologist and former resources/finance analyst.[/FONT]

  [FONT=&quot]440M ordinary shares        - @ share price of 30c Market Cap = $133M[/FONT]
  [FONT=&quot]Cash position at end of March 08 Qtr = $28M +.[/FONT]
  [FONT=&quot]Major shareholders holding over 50% [/FONT]
  [FONT=&quot](include ANZ ~ 26%; CVC ~ 20%; Fortis (attached to Dutch Fortis bank?) ~ 6%).[/FONT]

  [FONT=&quot]CSG Tenements of 27 100 sq klm - vast majority 100% owned by BUL[/FONT]
  [FONT=&quot]# This is a large holding! - apparently 2nd largest CSG land holder (after AOE) ! (Their chart doesn’t show ORG or STO)[/FONT]
  [FONT=&quot]# Tenements spread over different basins: Bowen; Surat; Clarence/Moreton and Maryborough!, and mostly near existing CSG fields and pipelines.[/FONT]
  [FONT=&quot]+ PLUS -   5 600 sq klm conventional acreage in Australia (SA and Qd)[/FONT]
  [FONT=&quot]+ PLUS - 67 000 sq klm offshore in PNG.[/FONT]

[FONT=&quot]Looking at CSG tenements alone:[/FONT]

  [FONT=&quot]ATP 854P & ATP 817P = both targeting Bandanna formation coals – which are currently in CSG production at Fairview (Santos) and Spring Gully (Origin)[/FONT]

  [FONT=&quot]ATP 854P (100%) – located at & south of Injune (a little west of Origins Spring Gully).[/FONT]
  -[FONT=&quot]Existing gas pipeline runs through this tenement !  [/FONT]
  -[FONT=&quot]2 wells drilled – 3-5m of coal – testing confirms gas.[/FONT]
  -[FONT=&quot]Now targeting 250PJ in the ‘Cerulean’ block – right near existing pipeline.[/FONT]
  -[FONT=&quot]More expl drilling to confirm & extend this resource.[/FONT]

  [FONT=&quot]ATP 817P (100%) – larger holding of split locations. [/FONT]
  -[FONT=&quot]Currently drilling 55klm NW Injune.[/FONT]
  -[FONT=&quot]First hole confirms 5m coal, [/FONT]
  -[FONT=&quot]Two more drilling to characterize the coal extent.[/FONT]

  [FONT=&quot]ATP818P – East of Goondiwindi [/FONT]
  -[FONT=&quot]In the southern end of the Walloon fairway and targeting Walloon coals of QGC, AOE fame.[/FONT]
  -[FONT=&quot]This is just south east of ICN ATP626P – which has just had some exploration – three holes confirming Walloon coals up to 15m thick.
- awaiting some results here.

------------------
[/FONT][FONT=&quot]On the strength of their large acreage + 'nearology' + continued strength in all things CSG... I have bought a small parcel of BUL and will look at buying more if/when I can find some cash to invest.

As always - Do Your Own Research - Dukey.
[/FONT]


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## Jimminy (2 June 2008)

thanks Dukey.....but as far as I am concerned people can do their own research.....I'm not going to yell from the roof tops on this one.

People will notice it soon enough.


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## nioka (2 June 2008)

Jimminy said:


> thanks Dukey.....but as far as I am concerned people can do their own research.....I'm not going to yell from the roof tops on this one.
> 
> People will notice it soon enough.




 Please yell as loud as you can. It's my pick this month as a super spec although I haven't had enough confidence to buy in yet. If I held though I would be thinking it is not a good time to sell.
 A good post Dukey.


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## Dukey (2 June 2008)

Jimminy said:


> thanks Dukey.....but as far as I am concerned people can do their own research.....I'm not going to yell from the roof tops on this one.
> 
> People will notice it soon enough.




yup - bit of a jump today making new highs... 

doesn't hurt to have the company basics together in one place for folks to see.  but it's to every investor to check for themselves and make their own decisions.   

keen to see some more results - esp from the goondiwindi tenement.


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## Jimminy (2 June 2008)

Dukey said:


> yup - bit of a jump today making new highs...
> 
> doesn't hurt to have the company basics together in one place for folks to see.




Yep, it's called a company website....

News will come soon enough with these companies. And yes, certainly not a time to sell, but who are we to know what will occur in the next few months.

It still has a reasonable market cap so I am not going to say it is completely undervalued at the present time, but it's prospects are diversified and large.


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## agro (2 June 2008)

keep in mind that not a while ago was there speculation of talks between BUL and SGL..

just another point of interest i would make people aware of


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## mick2006 (3 June 2008)

looks like another CSG play is close to breaking out.

given the huge amount of money/interest being shown by overseas companies to grab a slice of quality queensland CSG assets as shown by the Origin takeover offer, the Santos and Arrow deals, it wouldn't surprise to see plenty of attention now being foccused on BUL.

BUL is second in landholding size of the juniors to only Arrow, and with plenty of exploration underway and a quality management team headed by plenty of former QGC staffers things are looking very bright for BUL at the moment.

check out the recent presentation as a guide to how significant the BUL landholdings are.

http://www.blueenergy.com.au/PRESENTATION/Blue_Energy_Presentation.pdf


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## Dukey (3 June 2008)

mick2006 said:


> looks like another CSG play is close to breaking out.
> 
> given the huge amount of money/interest being shown by overseas companies to grab a slice of quality queensland CSG assets as shown by the Origin takeover offer, the Santos and Arrow deals, it wouldn't surprise to see plenty of attention now being foccused on BUL.
> 
> ...





Yep - certainly jumping today - 41c now!
wish I had been able to buy more 

A relevant question in my mind is .. since ORG have rejected the revised BG bid....   will BG look elsewhere for CSG reserves - and if so who will they be looking at?
Pure speculation of course - but looking at the acreages - QGC doesn't actually have that much - less than 10000 km² in fact  - BUT the areas they do have are all top notch prime CSG walloon fairway.
BUL have large holdings over a wider area - but quality is mostly unproven as yet. If they can get some good drilling results on the board then... things could get very interesting.
Of course having a few ex-QGC staff on board shouldn't hurt either....

-Dukey


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## Jimminy (3 June 2008)

Dukey said:


> since ORG have rejected the revised BG bid....   will BG look elsewhere for CSG reserves - and if so who will they be looking at?
> Pure speculation of course




There is a mad scramble on at present and BUL are now being noticed for their large land holdings that potentially may land the co. and holders a windfall.

42c is only the start imo - I won't make a prediction but this company excites me greatly. It has the key ingredients: 1. successful and proven management with appropriate contacts; 2. Technical expertise in the field; 3. large acreage in CBM prosperous areas. 4. Lack of major announcements to date.

Once BUL can start to release some targets from drilling undertaken we will start to see what we are sitting on here.

For now maybe it can settle down and consolidate in the 40-50c range.


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## Dukey (18 June 2008)

For those on the CSG bandwagon lately:
here's an in depth presentation from BUL (Sharif Oussa) on Board room radio. - about 20min long - but well worth a listen.

http://www.brr.com.au/event/46989

Highlights their large acreages and good locations next to successful projects; recent drilling, with gas in place estimates soon.

Follow the presentation with the recent .pdf presentation at the same time.

think I might need some more of these cause sooner or later the market will realise the value of their assets.
-(holding) - dukey.


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## Jimminy (19 June 2008)

Jimminy said:


> News will come soon enough with these companies.




Sharif Oussa (director, founder) has let it slip that gas in place numbers will be released in the next few weeks -  in this oral presentation at gold coast.

http://www.brr.com.au/asx/BUL

If you have a spare 20 minutes I'd highly recommend listening to it if you have been thinking of investing some of the hard earned into a CBM explorer.

I believe this presentation is the reason for the increased volume over the past 2 days.

cheers.


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## Jimminy (20 June 2008)

Jimminy said:


> Sharif Oussa (director, founder) has let it slip that gas in place numbers will be released in the next few weeks -




Gee, that didn't take long....lol

BUL has a 21tcf estimate for gas in place. Given their location in Eastern QLD there can be some significant upside for BUL as their acreage is adjoins producing gas fields, such as Spring Gully.


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## Dukey (20 June 2008)

Jimminy said:


> Sharif Oussa (director, founder) has let it slip that gas in place numbers will be released in the next few weeks -  in this oral presentation at gold coast.
> 
> http://www.brr.com.au/asx/BUL
> 
> ...




Gas in place estimates through..... a git quicker than expected.:

Prospective resources: >21 Tcf - which as far as I can work out should equate to a target of something in the region of 2000 to 2500 Petajoules.  (not sure of the exact conversion rates between Tcf/Bcf and Joules for CSG - but roughly 1Bcf ~ 1Pj?????  anyone ???? ).

This is for it's 100% owned tenements 814p 817p & 854p.


For other BUL tenemements - with less exploration data - they provide GIP figures of almost 19000 Bcf  (~ 19000 PJ!!) - much of this is attributed to ATP813P - will investigate this one a bit more.

All in all pretty impressive figures - though essentially targets to be proved up with drilling - is my take on it all.

What do you guys reckon?

-Dukey -( holding BUL)


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## Jimminy (20 June 2008)

Converting Gigajoule to MCF = Multiply Gigajoule by *.95
so one Gigajoule equals .95 MCF

But one 1 TCF is generally talked about as 1000pj even though it is not quite correct.

There is a lot of wells (hundreds) to achieve those numbers stated by BUL.

But it is very promising given some of the flows Shariff said they are getting.


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## grace (20 June 2008)

Dukey said:


> Gas in place estimates through..... a git quicker than expected.:
> 
> Prospective resources: >21 Tcf - which as far as I can work out should equate to a target of something in the region of 2000 to 2500 Petajoules.  (not sure of the exact conversion rates between Tcf/Bcf and Joules for CSG - but roughly 1Bcf ~ 1Pj?????  anyone ???? ).
> 
> ...





1 Tcf (trillion cubic feed) = 1000 PJ
So, 21 Tcf = 21000 PJ

This is massive, and the market does not seem to understand quite yet!

(just saw Jimminy's post - yes, he is more accurate)


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## YOUNG_TRADER (20 June 2008)

I saw BUL and thought hmmm looks cheap maybe the mkt missed this,

Then I checked the APPENDIX 3B and realsie there's about 500M shares on issue fully diluted which at 40c = *$200m+ mkt cap*

I don't know if thats expensive or not, but not as cheap as I though it may have been, then again 20TCF is a massive target and these guys are no doubt near QGC AOE SHG and others

Amazing sector performance


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## Dukey (20 June 2008)

Jimminy said:


> Converting Gigajoule to MCF = Multiply Gigajoule by *.95
> so one Gigajoule equals .95 MCF
> 
> But one 1 TCF is generally talked about as 1000pj even though it is not quite correct.
> ...





Yup : to all above....
...so ATP 813P - the one with the biggest numbers attached is a tenement they havn't explored or spruiked much yet.  It is in the Galilee basin - further to the NW - North of Longreach.  Apparently Galilee energy have had some exploration success there - will have to check that out further.

Galilee energy themselves might be worth a look too - dunno anything about them.
In looking for conversion figures I also came across 'westside' (WCL) who have some farm-ins with SHG. Will check them out too..... much to do in CSG at the mo. and many opportunities to be had.

----EDIT: ahhh - I see - I lost a zero there somewhere... 21000PJ  = !!!!


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## Dukey (20 June 2008)

YOUNG_TRADER said:


> I saw BUL and thought hmmm looks cheap maybe the mkt missed this,
> 
> Then I checked the APPENDIX 3B and realsie there's about 500M shares on issue fully diluted which at 40c = *$200m+ mkt cap*
> 
> ...




YT & Grace: Yep (again!) - has been an amazing ride recently for CSG and UCG.

I think the thing with BUL is that they are a fair way behind the big players exploration wise - the figures out today are pretty much just targets....but when they get stuck in and prove up some resources ... then LOOK OUT!!!


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## grace (20 June 2008)

Dukey said:


> YT & Grace: Yep (again!) - has been an amazing ride recently for CSG and UCG.
> 
> I think the thing with BUL is that they are a fair way behind the big players exploration wise - the figures out today are pretty much just targets....but when they get stuck in and prove up some resources ... then LOOK OUT!!!




I just got my initial holding today in this one.  Just thought I'd mention that OZ Minerals (Zinifex/Oxiana) is looking to expand into coal seam gas in Queensland.  To my knowledge, this is the only major size one that isn't tied up with anyone yet, and still in the early stages of growth.  What do you all think about who is left out there without a dancing partner?


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## Jimminy (20 June 2008)

YOUNG_TRADER said:


> but not as cheap as I though it may have been, then again 20TCF is a massive target and these guys are no doubt near QGC AOE SHG and others




Dukey is correct, these guys are on a different timeline to others.

But the key is the % of acreage they have retained 100% rights of.....practically all of it.

As opposed to all of the others doing farmouts.

The reason I believe this is the key? - we will be in a position to do a farmout to another party once we have proved up resources and someone is willing to buy a share of those inground resources as a $/gj far greater than what we have witnessed in the past few months.

cheers.


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## Dukey (20 June 2008)

Market hasn't reacted very positively.
- could be just the general sentiment around atm.
- could be that further down the report they have said that some other BUL tenements of significant size are not expected to be prospective for CSG for various reasons (near bottom -page 4 and elaborated further down).

But still - the estimates provided are impressive.... bring on the exploration..
- and yep again - BUL must be one of the biggest tenement holders who could use a more advanced partner. Who it might be is anyones guess??? but I'm still thinking QGC need more land/gas.


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## Dukey (20 June 2008)

Just trying to get a better feel for what the figures released mean...

on Page 4 the total Gas in place (Bcf ) estimates are:

11598 (-P90 = lowest estimate)
*21284 (-P50 = 'most likely' estimate)*
35761 (-P10 = high estimate)

In terms of recoverable gas - sources say that around 60-70% is a good figure - (USA; Sydney gas; bowen basin)  BUT it might be prudent to apply a VERY conservative 30% recovery factor.
Applying this to those figures above:

11598 (-P90)  X .3  = 3480 Bcf
*21284 (-P50) X .3 = 6385 Bcf*
35761 (-P10)  X .3  = 10728 Bcf

remember 1Bcf =~ 1 PJ.

So.... even if we take the MOST conservative Low GIP estimate multiplied by the VERY conservative recovery rate of 30% - we have a figure of 3480 Bcf (=~ PJ).  
Using the Most likely GIP X less conservative recovery rates -.... well the figures are huge.

To put this in perspective:
QGC currently have 2P (proven and probable) resources of 2370 PJ.
AOE have current 2P of 791 PJ.

Of course - BUL still has to do the drilling to prove up these numbers, and the apparent write-off of some tenements for CSG is dissappointing,  but it seems they should do very well when they start proving & producing.

-good luck all, gotta go -Dukey


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## insidertrading (25 June 2008)

Announcement out - Drlling Update Azure Area 817P

http://asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00854100

Please excuse my ignorance here, could someone please enlighten me on what are the measurement / geological implications in the announcement is referring to?

Cheers


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## Dukey (25 June 2008)

insidertrading said:


> Announcement out - Drlling Update Azure Area 817P
> 
> http://asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00854100
> 
> ...




Suggest you read through the thread and recent company presentations.  6m coal just confirms what other holes  have found there - not  a great thickness, but gassy and apparently useful nonetheless.
-dukey 
(holding)


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## Jimminy (25 June 2008)

you have to remember there is a offer from BG at the moment for Origin - this is the reason BUL has crept up a little over the last few days.

Blue has permit areas adjoining Spring Gully and Fairview - and the market is expecting a higher bid from BG....

BG has a pretty obvious strategy of trying to soften the price expectations at present.

Once BG get serious then Blue Energy will get a nice lift imo.

Been some good capping going on with this stock that gives me a 50c medium term target.

cheers.


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## nioka (4 July 2008)

BUL has gone into a trading halt, pending an announcement. The way the SP has dropped in the last few days it seems to indicate some "not so good" news. No long list of buyers or sellers in the quotes so there is not a lot of speculation one way or another. My guess is a new issue to raise more funds which may dilute the shares then again it may be a takeover. Anyone have any more wild guesses?


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## Dukey (4 July 2008)

nioka said:


> BUL has gone into a trading halt, pending an announcement. The way the SP has dropped in the last few days it seems to indicate some "not so good" news. No long list of buyers or sellers in the quotes so there is not a lot of speculation one way or another. My guess is a new issue to raise more funds which may dilute the shares then again it may be a takeover. Anyone have any more wild guesses?




Dunno - I think they had $28Mill at end of march quarter (see my post june 2nd)  so I would've thought that would be enough to keep the drilling happening.
----------------
Edit: investigating - something to do with major shareholder - Chimaera Capital - who are NOT listed as major shareholders on the BUL website - but comsec has them buying 15.5% about a year ago.
- will dig further...
-dukey


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## Dukey (4 July 2008)

Mmm not sure what to make of this.... Chimaera has a close rel. with ANZ. (see this...) 

http://www.chimaeracapital.com/cfgmr.pdf

but notice the name at the bottom of this... Mr Nick Stretch is a director of BUL and also part of Chimaera management...   dunno ... are there red flags here - or is it just because they hold 15%.... Here's hoping they havn't been margin called or something !?
- guess we'll find out next week!


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## grace (4 July 2008)

Dukey said:


> Mmm not sure what to make of this.... Chimaera has a close rel. with ANZ. (see this...)
> 
> http://www.chimaeracapital.com/cfgmr.pdf
> 
> ...




Oh dear, oh dear.  Don't think I want to dig any further.  ANZ appointed receivers to Primebroker Securites - part of the Chimaera Financial Group.  Seems us shareholders are the last to find out going on the selling that has been happening!

http://www.businessspectator.com.au...-to-Primebroker-Securities-G885H?OpenDocument


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## Dukey (4 July 2008)

http://www.businessspectator.com.au/bs.nsf/Article/ANZ-scraps-Chimaera-plans-G48GT?OpenDocument

Here's the problem.... - ANZ has withdrawn funding support for  Chimaera Capital.
What it means for BUL I don't know.
Presumably - they may have to sell down or out of BUL creating downward sp pressure....  not sure...

comments  folks.....??


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## Dukey (4 July 2008)

grace said:


> Oh dear, oh dear.  Don't think I want to dig any further.  ANZ appointed receivers to Primebroker Securites - part of the Chimaera Financial Group.  Seems us shareholders are the last to find out going on the selling that has been happening!
> 
> http://www.businessspectator.com.au...-to-Primebroker-Securities-G885H?OpenDocument




yES - It would appear that 'ANZ nominees' = Chimaera - or at least part of it does.   Bit dodgy I think to hide shareholders behind nominees or holding co's or whatever the relationship.

BUT - at the end of the day the BUL assets are not going anywhere.  Maybe some short term turmoil and hopefully thats all.


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## Dukey (7 July 2008)

Article in the australian provides some more background... to the BUL-Chimaera-ANZ  problem.

http://www.theaustralian.news.com.au/story/0,25197,23978088-5012439,00.html

looking forward to a solution.


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## grace (7 July 2008)

Dukey said:


> Article in the australian provides some more background... to the BUL-Chimaera-ANZ  problem.
> 
> http://www.theaustralian.news.com.au/story/0,25197,23978088-5012439,00.html
> 
> looking forward to a solution.




I'm more than a little disappointed in myself for not seeing Chimaera in there as a substancial holder.  I certainly would not have bought it had I seen this.  I knew chimaera were close to falling over.  However,  Blue Energy should have been put in TH on 30/6/08 when ANZ pulled the pin on the funding IMO.  A lot of people knew of the connection and sold before the TH!  I didn't.  Very cranky at myself!


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## Dukey (7 July 2008)

grace said:


> I'm more than a little disappointed in myself for not seeing Chimaera in there as a substancial holder.  I certainly would not have bought it had I seen this.  I knew chimaera were close to falling over.  However,  Blue Energy should have been put in TH on 30/6/08 when ANZ pulled the pin on the funding IMO.  A lot of people knew of the connection and sold before the TH!  I didn't.  Very cranky at myself!




I agree - substantial shareholder lists like the one on the BUL website, should be more transparent - 'ANZ nominees' is useless, unless we all want to become detectives. potential conflicting interests such as Nick Stretch's relationship with Chimaera and BUL should be clearly disclosed.


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## nioka (8 July 2008)

The announcement that ANZ has an interest in 31.1% of BUL shares which are subject to finance arrangements is not good for the short term SP of BUL. This should provide a good opportunity for investors to obtain an interest in BUL at a discounted price if these shares are placed on the market in any quantity at one time. The company appears financially sound and it's prospects are good.I will look to increase my holding.


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## Dukey (8 July 2008)

I guess it's better for the BUL sp that the ANZ appointed receivers to Chimaera  expect to hold discussions regarding the shares affected (now 31% of BUL !!) - this would seem to indicate an orderly sale - rather than a 'fire-sale' of affected BUL shares.  ... who knows - maybe ANZ just will just want to keep them for themselves!! I know I would.

Of course market has reacted badly - but as for Nioka - the assets are still there - and the sp will reflect that sometime down the track.
will I buy more?... Think I'll wait a bit longer and see how this pans out ...then considering that - maybe I will.!    Some good news qouldn't hurt!! 

-D


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## grace (8 July 2008)

Dukey said:


> I guess it's better for the BUL sp that the ANZ appointed receivers to Chimaera  expect to hold discussions regarding the shares affected (now 31% of BUL !!) - this would seem to indicate an orderly sale - rather than a 'fire-sale' of affected BUL shares.  ... who knows - maybe ANZ just will just want to keep them for themselves!! I know I would.
> 
> Of course market has reacted badly - but as for Nioka - the assets are still there - and the sp will reflect that sometime down the track.
> will I buy more?... Think I'll wait a bit longer and see how this pans out ...then considering that - maybe I will.!    Some good news qouldn't hurt!!
> ...




I will be buying more, just when is the question.  I still think BUL should be in trading hold as from 30/6/08, and I have emailed the ASX about my feelings on this.  However, now that the fall has taken place, better buy some just in case they think my letter is worthy of action.


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## grace (10 July 2008)

Selling off due to scared market generally, and specifically with ANZ hanging over their head.

Looking at MC 
441.8 mill shares @ 22c = $100 odd million

Cash at end of March 08 $28 million
Say $25 mill left now (cash burn $3 mill last qtr).  Sufficent cash for this years drilling.

So the market has $75 million market cap for assets other than cash.

Contingent reserves of 250 PJ on one small holding.  Prove that up to 2P and someone would be willing to pay $250 mill for that at least, if not more (based on takeovers of up to $3mill per 2P of PJ, but I'll be conservative and use $1mill).  Blue have only just begun too.  

GIP (gas in place)  21 TCF (21 000 PJ)

Looking very undervalued at 22 cents at present.  

Wonder how ANZ is going in relation to a buyer for their holding? Still waiting to top up.  Was hoping for 18 cents, but seems to be holding around 22 cents at the moment.  Still think it is very undervalued at 22 though it could go lower!


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## grace (13 July 2008)

grace said:


> Selling off due to scared market generally, and specifically with ANZ hanging over their head.
> 
> Looking at MC
> 441.8 mill shares @ 22c = $100 odd million
> ...




A bit of buying coming in on Friday.  Monday might see new lows though!

Notice after close of market on Friday



> The Company is aware that a number of *substantial *entities have registered their interest in securing the whole of the share parcel controlled by the Receiver.




Would a substancial entity be say Origin, QLD Gas, Arrow etc, as in substancial size?  Any thoughts?

And the fact that they want to buy the whole parcel!  Wonder who it is going to be?  Would have thought they could not go to 20%, as must submit a takeover bit then.......


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## Dukey (17 July 2008)

Well - some good support for BUL today - kick started by a better market sentiment and a few solid days on very low Vol... ie - no-one selling any more!!
All very nice since I picked up a few more at 24c yesterday.

Given that ANZ doesn't seem to be about to dump their shares for whatever they can get....  I reckon we're all looking up from here! .... EDIT - buyers now 4:1 over sellers on depth... (not counting ANZ of course!)

- looking forward to more expl. results.

-D  (holding)


----------



## jtb (17 July 2008)

Dukey said:


> Well - some good support for BUL today - kick started by a better market sentiment and a few solid days on very low Vol... ie - no-one selling any more!!
> All very nice since I picked up a few more at 24c yesterday.
> 
> Given that ANZ doesn't seem to be about to dump their shares for whatever they can get....  I reckon we're all looking up from here! .... EDIT - buyers now 4:1 over sellers on depth... (not counting ANZ of course!)
> ...




Hey Dukey,

Had a buy filled last week that was sitting at support, so yes it was nice to see the supply up to 26.5 thinned today.
Expect resistance @ 30c, but will be happy with that atm


----------



## AussiePaul72 (1 August 2008)

Considering the poor day on the market, there was a very strong run today from BUL starting the day at 26.5 and going as high as 31.5c. Justed missed topping up this morning with some more at 26c. 

This run has been building for a while with buyers outnumbering sellers in the order of 4-5 fold.

Even after a strong day today, where the closing price of 30.5c was only slightly back from the intraday high, buyers still outnumber sellers by about 4 to 1.

Will be interesting to see what happens on Monday, whether the run continues or it settles a bit


----------



## nioka (3 August 2008)

jtb said:


> Hey Dukey,
> 
> Had a buy filled last week that was sitting at support, so yes it was nice to see the supply up to 26.5 thinned today.
> Expect resistance @ 30c, but will be happy with that atm




 I have to boast. For the first time I am in front in the stock tipping comp. Because it happened on a Friday I will be able to claim that dubious honour for at least a three day period. 

It has cleared the 30c resistance hurdle. It should go on from there unless there is an unloading of a bulk of those shares that we know are out there to be rehoused as mentioned in earlier posts.

 There is a chance that they are being offered on the side in bulk to a potential partner interested in developing the BUL gas at a faster rate and it could lead to a take over offer, if not a partnership deal. We know that all sorts of deals are being made in the CSG area.

 Answers may be forthcoming during the next month if not in the next week.


----------



## nioka (7 August 2008)

Good news again today with a new partner for BUL. Stanwellcorp, a leading power generator purchasing a 19.6% share in BUL. The purchase was from CVC a foundation investor. The price was 40C share, quite a premium on todays price. To make an offer over 20% the offer would have had to be made to all shareholders. Maybe we can expect further increase in the SP in the short term future.


----------



## Dukey (7 August 2008)

nioka said:


> Good news again today with a new partner for BUL. Stanwellcorp, a leading power generator purchasing a 19.6% share in BUL. The purchase was from CVC a foundation investor. The price was 40C share, quite a premium on todays price. To make an offer over 20% the offer would have had to be made to all shareholders. Maybe we can expect further increase in the SP in the short term future.




Yes... very good news indeed.   BUL has a local partner/gas buyer who should know a thing or two about the potential of the tenements they hold.... in other words they have a big time believer who aren't just remote money shufflers.   Looking good for BUL  from here as exploration continues... and even better for the nice pickup after the ANZ scare!!  looking forward to the ride over the next couple of years!
-D


----------



## UPKA (25 September 2008)

This one has bounced off the 22c floor... still targetting 21Tcf of CSG. Current drilling program underway @ Sapphire1, targetting over 1PJ of CSG, a more definititve result should come out over the next couple of weeks.


----------



## UPKA (24 December 2008)

Looks like a break out from the 10c bottom, due to the takeoverbids, CSG sector is up n running again. BUL is no exception, similar acreage to PES, with higher proven reserve (if I remember correctly). market cap is ~$60m @ 14c. Arrow energy is paying ~$500m for PES... lots of upside for BUL


----------



## gav (30 December 2008)

Wow, up another 38% today already! From 10c to 27c in less than a couple of weeks.  

PES anyone?

Any guesses as to potential t/o buyers?


----------



## Dukey (1 January 2009)

gav said:


> Wow, up another 38% today already! From 10c to 27c in less than a couple of weeks.
> 
> PES anyone?
> 
> Any guesses as to potential t/o buyers?




>> Could be any of the major players really. My pure speculation would be BG (exQGC) - since they are gonna need as much gas as they can get their hands on for their LNG plant.  
AOE is obviously in there - but I think they already have much larger potential reserves under their belt, esp with PES sown up.
Then of course there's STO... or AGL??

------------
not advice - just opinion - D
------------


----------



## kingbrown (20 February 2009)

Any new thoughts to Blue Energy ?

I have picked a few up today @ .155
Looks to be good on paper ?

As i think about the PES millionaires club 
one would think they may have a bit of spare cash about to splash on new potentials like Blue ?
This time last year i bought a heap around early 40's and 
sold PES thinking i did well @ 52 cents 
and now PES in the $8 mark makes me sick but you have to laugh  
but hey good luck to the punters out there many deserve it  

But really why is Blue so cheap ?? 
Could it be another PES sleeper stock ?

Woul love to hear some current feed back here


----------



## kingbrown (6 March 2009)

*BUL in top 300*

Good to see 
BUL has been listed in the top asx 300 now 
Along with ESG in the top 200 

Any thoughts on the tenaments ?


CSG ASSETS 


Galilee Basin ATP 813P
ATP 813P, held 100% by Blue Energy,has a significant prospective resource Buoyed by this recent success in Rodney Creek 8, this area should base in the Permian Betts Creek and Aramac coal measures. 


  Bowen Basin ATP 814P
ATP 814P consists of nine disconnected sections of blocks covering the Bowen Basin in areas of known coal mining and CSG operations. Initial... 

Bowen Basin ATP 814P 

AREA: 3,343 km ² 
HOLDING: 100%, 12 years 
POTENTIAL: Current Gas In Place estimates 3,678 Bscf (P50) 
COAL SEAMS: Rangal coal measures, Moranbah coal measures 
EXISTING DATA: Several CSG wells within the area, data sharing with BHP, 30,000 coal core holes 
INFRASTRUCTURE: Transport to Townsville and Gladstone via gas pipeline within 20km 
WORK COMMITMENT: Drilling and seismic program 
OPERATOR: Blue Energy Limited 




  Surat Basin ATP 854P
ATP 854P is located near Injune, Queensland. Blue Energy has acquired 85km of 2D seismic in 2007 and interpretation of this survey indicated three... 
Surat Basin ATP 854P 

AREA: 1,264 km ² 
HOLDING: 100%, 12 years 
POTENTIAL: Current Gas In Place estimates 599 Bscf (P50) 
COAL SEAMS: Permian Bandanna Coal measures 
EXISTING DATA: Several CSG and Petroleum wells within the area 
INFRASTRUCTURE: Close to main pipeline 
WORK COMMITMENT: Initial drilling program complete & production testing planned 
OPERATOR: Blue Energy Limited 



ATP 854P is located near Injune, Queensland. Blue Energy has acquired 85km of 2D seismic in 2007 and interpretation of this survey indicated three distinct reflection patterns (seismic facies). Based upon this interpretation Blue Energy has drilled two core wells in each of the seismic facies, Cobalt 1 and Cerulean 1.

Based on these results Blue Energy has undertaken the drilling of a production test well at Cerulean -2 designed to establish gas flow rates. In August 2008 the Company reported that the Cerulean-2 production test well flowed CSG to surface during initial testing quantities sufficient to support a flare. 

The distribution of current GIP estimates for ATP 854P are: 


Tenement Area P90 Estimate (Bscf) P50 
Estimate (Bscf) P10 Estimate (Bscf) 
Cerulean Area 178 223 277 
Other Areas 274 376 509 
ATP 854P Total 452 599 786 



Blue Energy views ATP 854P as one of high potential for early CSG production and shall be placing a high priority on further assessment of this area.



  Surat Basin ATP 817P
ATP817P is comprised of 3 separate areas; ATP 817P North, ATP 817P Central and ATP 817P South all situated west of the Dennison Trough. Each of these... 


  Surat Basin ATP 818P
ATP 818P is comprised of a number of separate areas which have been grouped and designated as ATP 818P North and ATP 818P South. Blue Energy has... 


  Surat Basin ATP 896P
ATP 896P is located within the Surat Basin, over the western Toowoomba Strait between the Surat and Clarence Moreton Basins. This area will be... 

Find the link and check it out for yourself 
Would like to hear any opinions ?

http://www.blueenergy.com.au/01_cms/details.asp?ID=4


----------



## Dukey (7 March 2009)

Dukey said:


> >> Could be any of the major players really. My pure speculation would be BG (exQGC) - since they are gonna need as much gas as they can get their hands on for their LNG plant.
> AOE is obviously in there - but I think they already have much larger potential reserves under their belt,esp with PES sown up.
> Then of course there's STO... or AGL??
> 
> ...




geez - how wrong was i about that!! obviously before BG got involved.

BUL - I've had the feeling that they are waiting for other companies holding nearby to hit paydirt so they can ride on their coat-tails based on proximity, without spending much cash... because they are moving painfully slowly IMO.

Their tenements tend to be on the fringe - but certainly some show promise and they have quite a number / large area as you've listed brown. I'd be surprised if there's anything to rival PES's 852P in that lot 
though.

- having said that i still own a chunk of BUL - figuring something will come good sometime - maybe soon -maybe later.

heres hoping the former!


----------



## kingbrown (9 March 2009)

Good News 
Bul has just had Sunshine Gas Chief operating officer jump on board 
And we all know how how well he did with Sunshine Gas 

Share price has just hit .20 this morning with turnover 
Very good news


----------



## kingbrown (9 March 2009)

She just hit .23 with VOLUME !!

iam up a fair wack inc today 47% 

Should i sell or should i stay 

Then i think PES ???


----------



## kingbrown (9 March 2009)

Monday, March 09, 2009

*Blue Energy hire to ratchet up coal seam gas certification*

Blue Energy (ASX:BUL) has announced that John Phillips has joined the Company to manage a number of development projects designed to achieve CSG reserve certification in the near term.

Mr Phillips is the former Chief Operating Officer of Sunshine Gas and was responsible for the successful exploration program, reserve certification process and development of the Lacerta CSG Field.

Executive Chairman, Peter Cockcroft said, “John’s depth and breath of experience, particularly within the Surat and Bowen Basins, will be a significant boost to our technical capabilities. We have a number of projects where John’s knowledge will accelerate development plans.”

re media link 
http://www.proactiveinvestors.com.a...chet-up-coal-seam-gas-certification-0978.html


----------



## UPKA (9 March 2009)

yep, just a hype about the new COO. I think the price will most likely die down over the next week or so. I don't think certification will be out anytime soon... typical BUL management


----------



## beerwm (9 March 2009)

I think they might release a reserves certification timeline, and maybe a capital raising,

along the same lines as BOW.

The appointment of the new member kinda suggests they are going to head in this direction, and that might make a move in the SP.

given the success of BOW's action to fast-track reserves, wouldnt suprise me if BUL took the same route.


----------



## kingbrown (19 March 2009)

Yep she dipped back a touch 
but this week has been a good one in general  
yesty closed @ .21 
Today touched .235 by lunch with turnover 
I noticed on my commsec that many trades were listed as x trades 

Still holding firm


----------



## kingbrown (19 March 2009)

Volume was just under 7 mill today on no news ?
Which i think was quite high given the past few months turnover 
even on a good week ?
note morning buys in multiple 100's 

BUL 0.220 0.230 0.220 0.010 4.762 0.210 0.235 0.210 

6,704,350 253

Any comments out there ?


----------



## Dukey (19 March 2009)

kingbrown said:


> Volume was just under 7 mill today on no news ?
> Which i think was quite high given the past few months turnover
> even on a good week ?
> note morning buys in multiple 100's
> ...




I think all csg stocks are benefitting from the recent t/o activity - folks profiting from QGC and PEs takeovers - buying in to next possible targets.
AOE at the very least is probably now on the hunt having missed out on PES.  MPO and BOW have gone hard recently (and i was too slow!)   BUL has moved nicely from 15 c region. Maybe based on 'nearology' of other csg exploration? + likelihood of more t/o action in the sector.

all IMO  - and I do hold BUL


----------



## kingbrown (30 March 2009)

Seems to be holding in the mid 20's quite nicely 

Volume is still there too 
some ones sees the value   

Could it be Arrow ?? 

Very happy indeed


----------



## kingbrown (31 March 2009)

i think this is quite relevant to our csg sector 

*LNG looks good as oil prices continue to fall* 
Matt Chambers | 
Article from:  The Australian 

FALLING oil prices are raising interest in Australia's liquefied natural gas sector as oil majors look to boost vital reserves they can no longer secure in areas like Canada's oil sands.

Despite the steep drop in global energy prices over the past nine months, Queensland's coal seam gas sector has been strong as global and local Gladstone LNG proponents jostle for the state's reserves. 

On the other side of the country, the long-delayed $50 billion Gorgon LNG project, potentially the nation's biggest development yet, is picking up steam, with operator Chevron labelling it the company's top 2009 priority. 

Reserve replacement among international oil companies is a key driver of share prices, meaning they will not sit idle if one of the areas they are in dries up. 

"Australia is key on the target list for many companies because they are opportunity constrained and that is evidenced by the numbers that are active here," PricewaterhouseCoopers global LNG leader Michael Hurley said. 

Oil at $US50 was a sweet spot for LNG, where it was still profitable but not high enough to attract companies to alternative upstream sources, he said. 

In a presentation to analysts earlier this month Chevron chief executive David O'Reilly said he hoped to approve the massive Gorgon project, to be built on Western Australia's Barrow Island, by the end of the year. 

A decision on the nearby Wheatstone project, which is slightly smaller at 10 million tonnes a year, is planned for 18 months later. 

Unlike oil, gas requires linkage to a market and an approved project to be classed as commercial reserves. 

This was strengthening the incentive to go ahead with LNG projects, Mr Hurley said. 

Mr O'Reilly said Gorgon could grow to four or five trains. 

"Chevron is exhibiting similar characteristics to most of the other large integrated oil companies: an increasing reliance on very large projects to replace the more diverse existing production base," Credit Suisse analyst Mark Flannery said in a report following Mr O'Reilly's comment. 

Also underlying the increasing focus on Gorgon, 25 per cent partner Exxon Mobil, which has previously been seen as a potential hurdle to the project going ahead, this month signed a deal to supply 2 million tonnes a year of gas from the project to PetroChina. 

Chevron owns 50 per cent of Gorgon and Shell owns 25 per cent. 

On the other side of the country, CSG-to-LNG plans have led to BG Group, Conoco Phillips, Petronas and Shell to team up or take over local companies as they vie for position in the burgeoning industry. 

There are now five planned LNG projects at Gladstone. 

see Australian for full report  

http://www.theaustralian.news.com.au/story/0,25197,25224874-643,00.html


----------



## Dangerous (31 March 2009)

BUL have a mkt cap of over $100M and they have nothing (yet)!.... Surely the most over cooked CSG stock on the market.

They will prob certify some reserves in the coming months, but still with a mkt cap that high they need to do so soon

Mkt cap is the first thing i look at in a stock.  Ask yourself "would i pay $100M for nothing"?


----------



## kingbrown (31 March 2009)

I do note your point !

But Blue has vast CSM acreage 
and someones buying this stock up ?

Up again today to .28 
on what i would have thought to be a bad day 
i seem to be on my own on this forum 
Up a fair wack now 
Will continue to hold for now


----------



## grace (31 March 2009)

kingbrown said:


> I do note your point !
> 
> But Blue has vast CSM acreage
> and someones buying this stock up ?
> ...




Hi kingbrown, you don't walk alone here.  I'm joining you.
Blue was always a high risk hold of mine.  Today OIP found 5mtrs of gassy coal north of Moree.  Not what I would call stunning.  I personally think Blue are capable of much more than that (different area of course).  Those who collected at the low have done nicely.  In relation to earlier posts from others, Blue are later to the party than the likes of Pure (when I bought into Pure they had proved up nothing either).  So we are all buying into potential here.  High risk as usual, but a wait and see game.


----------



## philly (31 March 2009)

Hi Grace and Kingbrown, I'm walking with you too. I brought BUL in mid March @20c so I'm up 40% in 2 weeks!! imo there is a lot of upside. BUL has interests in the Bowen, Surat and Gallilee Basins in QLD + its interests cover an area over 20,000 km² and are located in prime CSG zones. Patience and the SP will grow


----------



## YOUNG_TRADER (1 April 2009)

grace said:


> Hi kingbrown, you don't walk alone here.  I'm joining you.
> Blue was always a high risk hold of mine.  Today OIP found 5mtrs of gassy coal north of Moree.  Not what I would call stunning.  I personally think Blue are capable of much more than that (different area of course).  Those who collected at the low have done nicely.  In relation to earlier posts from others, Blue are later to the party than the likes of Pure (when I bought into Pure they had proved up nothing either).  So we are all buying into potential here.  High risk as usual, but a wait and see game.






philly said:


> Hi Grace and Kingbrown, I'm walking with you too. I brought BUL in mid March @20c so I'm up 40% in 2 weeks!! imo there is a lot of upside. BUL has interests in the Bowen, Surat and Gallilee Basins in QLD + its interests cover an area over 20,000 km² and are located in prime CSG zones. Patience and the SP will grow




Hey guys, while its true BUL has no reserves ie no 1P 2P or 3P Gas they have Massive and I do mean massive GIP (Gas in Place) estimates at ATP 814P which is next door to Arrow Energy they have a GIP estimate/target of 1TCF at ATP 813P they have a GIP of 15 TCF thats massive!!!

All early days but massive targets and huge upside if it can be proved up


----------



## Shrewd Crude (1 April 2009)

young trader...

You stole this oFF me From another tread...

best you reFerence your inFo in Future mate....


.^sc


----------



## YOUNG_TRADER (1 April 2009)

Shrewd Crude said:


> young trader...
> 
> You stole this oFF me From another tread...
> 
> ...




I don't hold BUL and have not been following the stock, I actually got this info from their qtrly shrewd, you should know me well enopugh by now to know I don't do stuff like that, check the qtrly report and you'll see I've "stolen" it straight from there

Anyhoo like I said not holding and haven't been following the stock just started looking at them, I prefer another to be honest


----------



## Shrewd Crude (2 April 2009)

my apologies YT...
I had a Few wines, and Ive pretty much never been pissed on wine so ise on a crazy buzzz...
Forgive me For my blowout...
Dont think I said silly things anywhere else... hehehehehe...

any way,

The market announcement last year detailing resources oF 21 TCF oF gas is mind boggling...

This is what got me interested in the stock last year... I kind oF put in on the backburner until a mate recently bought in...


.^sc


----------



## babka (2 April 2009)

SC, you are entitled to get pissed on some red or white plonk, no worries. You are obviously young and your liver can still handle it. But that is beside the point. Your opinion on BUL is what interests me. You write good, qualified and quite technically informed posts about CUE, so your "feelings" for BUL, if you care to publish them, will be much appreciated. Regards. PS. Red wine is good for you, so they say, have quite a few every night myself.


----------



## YOUNG_TRADER (2 April 2009)

Shrewd Crude said:


> my apologies YT...
> I had a Few wines, and Ive pretty much never been pissed on wine so ise on a crazy buzzz...
> Forgive me For my blowout...
> Dont think I said silly things anywhere else... hehehehehe...
> ...




lol nothing wrong with bing on the red but what the heck are you doing on the comp, you should be up to mayhem when pissed 

Do you have a link to the ann of 21TCF? I could only find 1TCF and 15TCF so total 16TCF, thanks in advance


----------



## Dukey (2 April 2009)

Dukey said:


> Just trying to get a better feel for what the figures released mean...
> 
> on Page 4 the total Gas in place (Bcf ) estimates are:
> 
> ...




Just went back in the thread - the post above was from june last year referring to 21Tcf of P50 (actually 21284 Bcf Gas in place). I would have got that from a company presentation of that time.

Not sure what the current figure is.

I'm still here holding  BUL - confident they'll find something of value in amongst their huge agreage - but it is a bit more risky than some other csg-ers IMO - since most of the tenements are on the edges of the known sweet CSG areas, and largely unproven.

..... but so was PES until a few months back and look what happend to them. though my money for the next csg t/o targets would be on the mid sized players with some reserves under the belt. 
BUL will have their day - but maybe not just yet ... 
..... hope I'm wrong though!


----------



## Shrewd Crude (3 April 2009)

Heres the link Y Trader

http://www.stocknessmonster.com/news-item?S=BUL&E=ASX&N=410875
....

21 TCF is so unbelieveably big...
Ise just trying to punch some numbers in my calculator, and they wouldnt all Fit...
Its a scientiFic calculator...

I had to Find a super calc and I Converted 21 TCF to BOE...
and came up with 21 TCF equaling 3.5 Billion Barrels oF oil (BOE)...

it is that big...

.^SC


----------



## kingbrown (9 April 2009)

grace said:


> Hi kingbrown, you don't walk alone here.  I'm joining you.
> Blue was always a high risk hold of mine.  Today OIP found 5mtrs of gassy coal north of Moree.  Not what I would call stunning.  I personally think Blue are capable of much more than that (different area of course).  Those who collected at the low have done nicely.  In relation to earlier posts from others, Blue are later to the party than the likes of Pure (when I bought into Pure they had proved up nothing either).  So we are all buying into potential here.  High risk as usual, but a wait and see game.




Thanks Grace and co 
Good to see iam not alone on this one 
After trying to break to .30 it has retraced a touch this week 
i note volume was down today and one very large single trade came through near the close 
But the whole sector is full of hot gas and speculation atm

I hope this may well prove to be our next PES 
Yes the potential is huge on this stock 
so i have this as my Wildcard CSM stock 
Still cant be unhappy with it atm


----------



## kingbrown (17 April 2009)

Well its seems all quite on here again ?
Volumes appear to be falling off on this stock ?
so i bit the Blue with Blue 

Yep i Sold out of yesty @265 pretty happy with that as iam up quite a wack still 


Will wait for a re-trace but i doubt i'll get them for 15.5 again ?

just have the feeling the markets getting a bit overcooked atm 
A few others are cashing in too 
iam letting most of my spec'y stocks go atm 

Anyway ive walked away with a new Waverunner
Thanks Blue he he 

Will probably loose it on something stupid like AED oil later 

Any Way Good luck guys !

Will jump back in sometime soon on news though 
still hold esg 

Cheers K.B


----------



## philly (17 April 2009)

Hi Kingbrown,
can't blame you for getting out. You made a nice profit and that's the aim of the game 
Seems we're just treading water at the moment But I'll stay put for a bit longer and hope the SP goes up a bit more.
Enjoy

PS Hi Grace, it seems its you and me left LOL


----------



## babka (18 April 2009)

Hello, hello,
you are not alone, there is another holder here, but I will wait a little bit longer and hoping for better. Don't want to sell now, bought at 0.22c so my profit would be miniscule, also don't have many shares. I have confidence in new CEO, he has a good record and reputation. Wait and see - is my game atm. Good luck to us holders!!!!!!!!!!!!!!


----------



## big sal (23 April 2009)

BUL dropped to 22c at open this morning but the media release (23 april 10.12am) below has seen it rise back up to 26c (as at 12.30pm) … nice

“Update on Farmin to Magellan Maryborough CSG Properties
Blue Energy Limited (ASX:BUL) is pleased to announce that its wholly owned subsidiary Eureka Petroleum Pty Ltd, having completed stage one of its farmin obligations to Magellan Petroleum (Eastern) Pty Ltd (“Magellan”) on ATP’s613P, 674P and 733P, has executed an amendment to the farmin agreement.
Blue Energy has fully funded the drilling of two successful exploration wells in ATP 613P to test the coal seam potential of the Burrum Coal Measures. Additional work on the tenements had been suspended pending completion of Native Title negotiations by Operator, Magellan.
Under the amended agreement Blue Energy will become Operator and undertake an agreed work program to earn a 75% interest in the farmin area within the ATP’s.
The Gas in Place estimate (P50) for the farmin area is 395PJ (~372Bcf).
Executive Chairman Peter Cockcroft said “We are particularly pleased to have reached agreement with Magellan on the further exploration of these properties as we see their potential and proximity to existing and proposed infrastructure to be of strategic value not only to domestic power generation but also to future LNG projects.””


----------



## kingbrown (14 May 2009)

intresting to see bul defy gravity yesterday on the cap raise and finish up for the day 

News on BG and the Chinese ??

Any comments 

Do not hold BUL anymore 

BG GROUP is on the cusp of signing up the first customer for LNG from coal-seam gas, in a sign that demand for the fuel is weathering the oil-price slump.


http://business.smh.com.au/business/bg-deal-fuels-hopes-for-gas-project-20090513-b3d5.html


----------



## nioka (29 May 2009)

Anyone interested in BUL should read todays announcement regarding a partnership agreement with the Korean gas company KOGAS. Under the terms of the agreement KOGAS will purchase a 10% equity in BUL. Along with the funds from the SPP (closing June3) this will mean that BUL will have sufficient funds to continue the development of its coal gas resources. The SPP price of 20c against the price today of 24c is appealing.

BUL has been slow off the mark but has a new future with new management and a credible partner. DYOR.


----------



## kingbrown (31 May 2009)

Dont know about everyone else but it made me jump back into Blue on Friday 

Any comments on this tie up 

Brisbane Times

Korean Gas takes stake in Blue EnergyMay 29, 2009 
*Korean Gas Corporation (KOGAS) is set to take a 10 per cent stake in Blue *Energy Ltd through a private placement under plans for a strategic partnership with the coal seam gas explorer.

Shares in Blue Energy were up 2.5 cents, or 11.63 per cent, at 24 cents at 1157 AEST on Friday.

Blue Energy said in a statement on Friday that it had executed a heads of agreement with KOGAS, which is the world's largest liquefied natural gas importer.

KOGAS has also been granted an option to buy-in to two of Blue Energy's permits in the Galilee Basin and Northern Bowen Basin of Queensland.

KOGAS will be entitled to nominate one director to Blue Energy's board.

The funds from the proposed placement will be put towards Blue Energy's work program, with the goal of achieving first gas reserve certification in the second quarter of 2010.

The deal is subject to approval by the boards of both parties and Australia's Foreign Investment Review Board.

"Blue Energy views KOGAS as a key long term strategic partner," Blue Energy executive chairman Peter Cockcroft said.

He said the partnership would help underpin Blue Energy's short term domestic gas and medium term export plans.


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## kingbrown (31 May 2009)

Friday, May 29, 2009

Blue Energy attracts investment from Korean Gas Corporation, world's largest LNG importer


In a coup for Blue Energy Ltd (ASX: BUL) shareholders, Korean Gas Corporation (KOGAS) will buy 10% of Blue Energy at 20 cents per share and form a strategic partnership.  KOGAS has an option to farmin to Blue Energy’s ATP813P in the Galilee Basin and ATP814P in the Northern Bowen Basin.

KOGAS is the world's largest LNG importer. It is listed on the Korean Stock Exchange (KSE) with 2008 total revenue of A$24billion. KOGAS currently operates three LNG terminals and a nationwide pipeline network in Korea spanning over 2,700km.

Peter Cockcroft Blue Energy Executive Chairman was understandably enthused by the deal with KOGAS. He said Blue Energy views KOGAS as a key long term strategic partner and together with Blue Energy’s existing alliance with Stanwell Corporation, provides the foundation for Blue Energy to deliver on both our short term domestic gas and medium term export market strategies.”

Funds from the proposed KOGAS placement with expected proceeds of the Share Purchase Plan (SPP) and existing cash reserves will enable Blue Energy to to move to first gas reserve certification in the second quarter of 2010.

The Company's acreage consists of fourteen tenements across six productive basins in Queensland and South Australia totalling over 33,000km²


http://www.proactiveinvestors.com.a...oration-worlds-largest-lng-importer-1584.html


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## kingbrown (12 June 2009)

Blue Energy raises over $22m 
9-June-09 by Edited announcement




Blue Energy has raised more than $22 million through a share purchase plan which, together with a proposed placement to a Korean company, will accelerate the explorer's proposed work program for the next two years. 



The announcement is below: 



Blue Energy Limited (ASX code: BUL) advises that it has successfully closed its Share Purchase Plan (SPP), announced on 1 May 2009, receiving more than 2200 applications from eligible shareholders for approximately $22.3 million of new ordinary shares.

Executive Chairman, Peter Cockcroft said "We are extremely pleased with the strong support and high level of participation we received from our retail shareholders with approximately 50% of those eligible participating in the SPP. This demonstrates significant confidence in Management's ability to deliver shareholder value."

Completion of the SPP will result in allotment of approximately 118 million new Blue Energy ordinary shares. The actual number of shares to be issued is subject to final processing of applications. 

Under the previously announced terms of the SPP, the shares will be issued at a price of $0.1894 per share, being the 5 day volume weighted average price for the 5 trading days up to and including 3 June 2009. The allotment of shares is expected to take place on Friday, 12 June 2009.

The combination of the SPP proceeds, funds on hand and successful completion of the recently announced proposed placement to Korea Gas Corporation (KOGAS), will provide Blue Energy with sufficient cash to undertake and accelerate the Company's proposed work program for the next 18 - 24 months.

link here 
http://www.wabusinessnews.com.au/en-story/1/72995/Blue-Energy-raises-over-22m-


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## Borrachobob (25 June 2009)

I thought the last few announcements where very positive and has got me excited about this one. I thought there would be more interest But there dos,nt seem to be much. Any thoughts anyone ?


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## anatol (25 June 2009)

Borrachobob said:


> I thought the last few announcements where very positive and has got me excited about this one. I thought there would be more interest But there dos,nt seem to be much. Any thoughts anyone ?




Yes you are right. Its price is not going up at all (even going down) despite solid information from a very committed (just recently, but not before) CSG company. There is no other CSG company which owns such large and supposedly prosfective tenements all around Bowen, Surat and Galilee basins (but no certified gas) that sits around $0.20 sp. It'll go up, don't worry. I am holding my BULs very tightly, and topping up all the time. 

I think its price is under pressure by the big shareholders by a few reasons. 

However, I can see on its chart there is a positive divergence created which means that SP is going to go up very soon (this is a not 100% correct indication though). This is IMHO, if anyone knows better than me  s/he is welcome to correct me.  (Pls see the chart below)

(A positive divergence occurs when the indicator moves higher while the stock is declining. A negative divergence occurs when the indicator moves lower while the stock is rising)


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## Miner (25 June 2009)

Folks

I am a regular subscriber of Eureka Report

I do not get this mob David Haslehurst . He has a portfolio of few species. Suddenly couple of them shot up like meteriots : Trafford and Scotgold resources.

In both the casse the companies blamed (or credited) David's newsletter behind the rise. I take this with pinch of salt. Because by the time the newsletter gets published the share prices already shot up. 
Secondly, the people who bought before the publication and still had the article from David are who are printing for Eureka Report or the Eureka Report mobs themselves

If David is such a smart guy then why the public not running after BUL which has actually dropped down much below than David claimed to have bought it.
He bought BUL at 22 cents and now BUL is at 19 cents

Looks like lot of BUL story being published by David and under the report he is just helping some folks to get share prices up 

*The Speculator's portfolio, as at June 23, 2009*
Company	           ASX	No of shares  Bought             Purchase  price        Current price 
Laserbond	            LBL	20,000       4/07/2008                 $0.10*              $0.100     
Robust Resources	   ROL	40,000       13/02/2009               $0.155 avge      $0.630 (i never read from him about this investment way back in Feb) 
Quicksteps Holdings QHL	20,000       16/03/2009              $0.165            $0.155 (*this did not get appreciation since March ) *
Cortona Resources 	CRC	20,000         14/04/2009            $0.150          $0.165

A1 Minerals	             AAM	20,000         12/05/2009             $0.145         $0.140 (loss) 
Gage Roads Brewing	GRB	40,000         26/05/2009              $0.050       $0.058 
Image Resources	       IMA    12,000          2/06/2009             $0.645       $0.665 
*Blue Energy         	BUL	 20,000         9/06/2009             $0.225      $0.190*
Trafford Resources	TRF   30,000      16/06/2009                   $0.185         $0.220 
Citigold Corporation	CTO	26,250      19/06/2009                   $0.152        $0.180

Scotgold Resources	SGZ	20,000      22/06/2009                   $0.100        $0.090


Who knows

Disclaimer : A bit of Bul Story I am a holder of BUL.


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## nioka (26 June 2009)

Borrachobob said:


> I thought the last few announcements where very positive and has got me excited about this one. I thought there would be more interest But there dos,nt seem to be much. Any thoughts anyone ?




Bul has made a generous offer through the SPP allowing all holders,no matter how small, the oportunity to purchase up to $15,000 worth of shares. Selling at 20c shows a profit for those that bought to take a profit. I was lucky and sold enough at 27c before the issue to cover my cost. I expected a sell off after the allocation. In addition there would be a lot of sellers making a sale for tax loss reasons. Because of the wash sale watch by the ATO they are not buying straight back.

The fundamentals seem sound and I expect the low prices will not last. A good announcement of proven reserves will see this stock rocket. Their partners are no fools and would not have invested if they were not confident in the long term. Add to that the fact that they are starting to talk gas pipe lines is a show of confidence. Finance is no longer a problem.

That is how I see BUL and that's no bull.


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## kingbrown (21 July 2009)

With whats going on with ESG etc 
It by no surprise BUL closed out @ .27 yesterday 


Also see Australian article Re : Newcastle LNG plant  
Plenty of upside atm 

Would be great if we could generate some debate on this LNG topic for NSW

*Newcastle on the map as a port for LNG exports*


NEWCASTLE Port could support a liquefied natural gas export plant to process the huge coal-seam gas resources Santos and partner Eastern Star Gas say they are sitting on in NSW's Gunnedah Basin, according to an early study.

Eastern Star managing director David Casey told The Australian a report his company commissioned into the possibility of an LNG plant at Newcastle, north of Sydney, had come back positive. 

"The report says it can be done and that it (an LNG plant) should be looked at further," Mr Casey said. 

http://www.theaustralian.news.com.au/business/story/0,28124,25806542-5005200,00.html


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## Dukey (14 September 2009)

ahem....   BUL's charging over the last two days !! .

not sure what the go is exactly - but this one doesn't jump like that for no reason (only IMO of course based on past observations of this share) - so I expect someone knows something juicy about expl results, corp deals,  or the like.

either way - it's about time for us long waiting BUL holders!


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## vincent191 (14 September 2009)

Where there is smoke there is fire (usually). I too am wondering what is going on, not that I am complaining. The more smoke the bigger the fire.


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## nioka (21 October 2009)

Call this ramping if you wish but Blue Energy must be one of the most underpriced stocks available in the energy stakes that I can find.

1. It has large lease areas in the best areas for coal seam gas in Queensland.

2. The Queensland government has come out with the statement that there is a huge potential for the export or liquid gas derived from the coal seam gas with quantities that will turn around the finances for Qld.

3. Blue Energy has two high profile partners in Stanwell (power generation for Qld distribution) and Kogas ( a large Korean liquid gas importer)

4. An increased drilling program to establish reserves is now underway.

5. The company appears to be well funded.

6.The SP is low and has been held back by the uncertainty of the future for the large number of shares held by the ANZ bank which are in dispute.

7. Compared to other coal seam gas companies BUL is well underpriced.

DYOR......... but I did very well out of AOE by getting in early and I expect BUL to beat that for me.


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## Dukey (22 October 2009)

nioka said:


> Call this ramping if you wish but Blue Energy must be one of the most underpriced stocks available in the energy stakes that I can find.
> 
> 1. It has large lease areas in the best areas for coal seam gas in Queensland.
> 
> ...




I agree nioka - although their locations are a bit peripheral to the real sweet spot that BG and Arrow share most of.

but just the same, I expect this current drill program will start the ball rolling for BUL and we should see a revaluation sometime over the next few months as the results start to roll in and real gas assets appear on their books. .... and also as the results of other small CSG'ers near to BUL tenements ramp up their exploration works.

- here's hoping anyway... D


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## nioka (7 December 2009)

nioka said:


> Call this ramping if you wish but Blue Energy must be one of the most underpriced stocks available in the energy stakes that I can find.
> 
> 1. It has large lease areas in the best areas for coal seam gas in Queensland.
> 
> ...



:
The above was posted a  month or so ago. In the meantime there has been plenty of time to accumulate as the SP languished at low levels. Todays announcement points to the start of the an interesting time for BUL. Patience looks like being rewarded. DYOR


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## Tukker (8 December 2009)

Better than expected results, and 6 times the usual volume after a pretty hard accumulation period. 

I bought in a few weeks ago at these lvls reached and was hoping for some kind of rebound, looks like i got it. Now to see if it can break out during a predicted down month.

25c looks like a reasonable resistance line, lets see how it goes.


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## condog (9 December 2009)

Tukker said:


> Better than expected results, and 6 times the usual volume after a pretty hard accumulation period.
> 
> I bought in a few weeks ago at these lvls reached and was hoping for some kind of rebound, looks like i got it. Now to see if it can break out during a predicted down month.
> 
> 25c looks like a reasonable resistance line, lets see how it goes.




With the high quality finds it shouldnt have much trouble... It is an undiscovered gem...getting harder to ignore by the day...Im in but need to up my holding on this one before it takes off or has another major upgrade...


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## condog (9 December 2009)

Tukker said:


> Better than expected results, and 6 times the usual volume after a pretty hard accumulation period.
> 
> I bought in a few weeks ago at these lvls reached and was hoping for some kind of rebound, looks like i got it. Now to see if it can break out during a predicted down month.
> 
> 25c looks like a reasonable resistance line, lets see how it goes.




With the high quality finds it shouldnt have much trouble... It is a bit of an undiscovered gem...getting harder to ignore by the day...Im own it  but need to up my holding on this one before it takes off or has another major upgrade...

Disc I may own this from time to time...


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## Tukker (4 February 2010)

Battered and Bruised. 

Someone has jumped ship as the rain delays put off any good results in the short term. Buying opportunity for those who have the cash. Went to a low of 16.5c today, would really like to know who is selling. 

Indicators showing oversold regions, given the volume I am in agreement. 

Have any fundamentals changed nokia?


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## condog (5 February 2010)

I wouldnt fret it just those with short time lines showing a bit of frustration and keeping thier capital working...


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## AussiePaul72 (5 February 2010)

condog said:


> I wouldnt fret it just those with short time lines showing a bit of frustration and keeping thier capital working...




I tend to agree Condog ..... traders on tight timelines ..... same thing has happened with BCC ...... don't think there is a lot to worry about as these stocks will likely bounce back with no reason for declining except a time delay in exploration activities


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## Tukker (9 March 2010)

Volume bounced back to lvls more suited to BUL. Drilling update probably within a week or thereabouts explaining how many buckets of water they mopped up, then they can get back on track to actual work.  

20 cents still showing significant resistance I would really enjoy to see sp bounce off 18 and hold for the rest of the week, $380k brought the share price up from 17.5 to 19. Probably a mil needed to break 20c.


AussiePaul72; yes traders and their time lines a concept unfortunately drilled into us since the inception of profits.  

*Whipping the heck out of a turtle stampeding through peanut butter.*


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## Tukker (17 March 2010)

KOGAS and Blue Energy MOU 

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01047274

Price moved back up into the 19c range and if you consider the price has been range bound between 19c and 28c for the last year, you could say its reached a pivotal point technically to favor a bullish run.

On the other hand, one could also say a new range has been formed between 16c and 20c. However with the recent news fundamentally the company is better off than it was before, so one would hope the market prices to suit.

I hold at 17.5c


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## Wysiwyg (20 March 2010)

BUL tried for a run above 20c but the clubbers jumped out of the closet and beat the price back down. Maybe just normal small profit taking but cutting their nose off in spite of their face. Strange. Company making business progress with plenty of funds at hand so doesn't appear to be any nasty hidden agendas. Strange. Maybe it's a time thing. Maybe it's all pee and wind.

:dunno:


*Whipping the heck out of a turtle stampeding through peanut butter.*


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## vincent191 (26 March 2010)

Wysiwyg said:


> BUL tried for a run above 20c but the clubbers jumped out of the closet and beat the price back down. Maybe just normal small profit taking but cutting their nose off in spite of their face. Strange. Company making business progress with plenty of funds at hand so doesn't appear to be any nasty hidden agendas. Strange. Maybe it's a time thing. Maybe it's all pee and wind.
> 
> 
> 
> ...


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## Dangerous (30 March 2010)

Wysiwyg said:


> Hopefully with the new CEO and what is happening to Arrow we will see a higher resistance to the BUL sp. BUL is not doing itself any favours by being conservative and talking "small" I reckon the new CEO should start talking "BIG".




Hard to talk big without certified reserves.... once they have 2P reserves they may be able to start talking things up... Until then stocks like this are worthless.  They are in the job of gas exploration and at this stage they have not found anything.


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## vincent191 (30 March 2010)

I stand corrected.....instead of talking BIG, BUL's new CEO should talk UP the stock. To gain investors confidence CEOs need to talk up, I don't mean bull**** without basis, but some sort of marketing talk like highlighting drilling results and what can happen if further drilling can confirm current results etc.... There are CEOs that can sell ice to the eskimos and there are those that won't tell you the time of the day.

I won't say BUL has got nothing, a couple of their early drilling results have shown promise and they hold large tenements close to proven resources.


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## Tukker (30 March 2010)

Wysiwyg said:


> BUL tried for a run above 20c but the clubbers jumped out of the closet and beat the price back down. Maybe just normal small profit taking but cutting their nose off in spite of their face. Strange. Company making business progress with plenty of funds at hand so doesn't appear to be any nasty hidden agendas. Strange. Maybe it's a time thing. Maybe it's all pee and wind.
> 
> :dunno:




Its having another go at the moment. Nice and steady buying increases since the new ceo was appointed and the mou was signed.

Definitely upward momentum leading up to the 20c mark, and the right kind at that.

Ill look for some consolidation around 21c. and see what happens after that.


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## Dukey (1 April 2010)

Tukker said:


> Its having another go at the moment. Nice and steady buying increases since the new ceo was appointed and the mou was signed.
> 
> Definitely upward momentum leading up to the 20c mark, and the right kind at that.
> 
> Ill look for some consolidation around 21c. and see what happens after that.




certainly looks like BUL has appeared on a few more radars! - up to 23c this morning - where she hasn't been since Jan 20 and that was on the way down.  I think the current exploration, new monslatt reserves estimates, kogas deals, and general positiveness surrounding all things CSG are finally starting to put a rocket under BUL - who are 
surely in a box seat with the positioning of some of their acreages - to link in as supplier to one or more of these LNG plants.....
... but at the same time, they will be creeping higher up the menu for the big CSG-ers who are still hungry for gas and looking for opportunities to tie up their supply.

you won't find me thinking about selling this one in a blue fit now, nor any other smaller CSG plays that i own.

- D.

EDIT: add new reserves from recent announcement.



> Blue Energy Limited (ASX: BUL) is pleased to advise that an assessment by Netherland,
> Sewell and Associates (NSAI) of the dataset from the Monslatt area of ATP814P has resulted
> in the following initial resource estimate by NSAI:
> Category                               NSAI Estimate
> ...


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## vincent191 (1 April 2010)

Some investor newsletter has got BUL as a buy. Someone is playing silly buggers in the buyers queue.


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## Tukker (1 April 2010)

vincent191 said:


> Some investor newsletter has got BUL as a buy. Someone is playing silly buggers in the buyers queue.




Is that an assumption or do you have the name of the newsletter?  

I know harleys*? (hartleys whatever its called) has it on their list, but over a mil pumped into it seems a bit much for a newsletter.

I'm unconvinced this break is sustainable, but hey looks good on paper.


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## Dukey (1 April 2010)

Tukker said:


> Is that an assumption or do you have the name of the newsletter?
> 
> I know harleys*? (hartleys whatever its called) has it on their list, but over a mil pumped into it seems a bit much for a newsletter.
> 
> I'm unconvinced this break is sustainable, but hey looks good on paper.




just realising some underlying value IMO - BUL was very slow to get holes in the ground for a long time but they seem to be getting their act together to prove up some resources and with every CSG company i've seen so far ...more drilling =  more resources = more market interest = higher SP.

They all go up and down, but breaking back up through 20c and remaining there is an important step.


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## vincent191 (1 April 2010)

Don't know the name of the newsletter, someone tried to post it on another forum but got taken down by the forum moderator. Just look at Commsec and you will see the extra-ordinary "funny" buy queue.


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## vincent191 (1 April 2010)

For those newbies with an interest in BUL....do some research on the bundle of shares held by ANZ.

Those shares were originally (years ago) held by a number of investors (lawyers I think??) who had so much faith in BUL they took up margin loans to purchase millions of them. Then the sharemarket collapsed and the broker went bust and the investor couldn't meet their margin call and ANZ seized all their shares including  very large parcels of BUL shares.

The current dispute  the lawyers claimed ANZ should not have or did not have the rights to seize those shares and had obtained an injunction to prevent ANZ of selling them.

The above is my recollection of events as reported in the media. DYOR.


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## jonojpsg (1 April 2010)

Yep it's in a newsletter that I receive.  They did point out the large hangover that ANZ have over BUL which they say has been and may continue to keep the SP down in the short-medium term.  The key point was KOGAS stake being a major plus and good positioning of landholdings.


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## Tukker (2 April 2010)

Indeed your right about the BUL ANZ debacle. 



> ENERGY company Blue Energy has revealed that almost one-third of its share register could be sold off as the affairs of stock lender Chimaera Financial Group are resolved.....http://www.theaustralian.com.au/business/mining-energy/blue-energy-in-anzs-security-sale/story-e6frg9df-1111116859725



_
http://www.theaustralian.com.au/bus...zs-security-sale/story-e6frg9df-1111116859725_

*This occurred almost 3 years ago* and during that time, BUL has traded in a range between 15 cents and 30 cents. If there was a dump it would have happened between the last 3 years. Instead it looks on chart like the sell off has been responsible and consistent, rather than massively dumped.  

The recent rise to 23c+ is "predictable" and not out of the ordinary as it has traded sideways between July 2008 and today. It probably spent about 50% of its time in regions between 20 and 30c. MACD has been accurate 75+% of the time, and predicted its current bull run.

On strictly a technical basis I became a part of this stock. And i retain a short term target of 25c after a consolidation at 20c..


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## Sharejon (20 April 2010)

Do any of you have more recent information on the ANZ share conundrum?

Also in your opinion does BUL look like an attractive stock at the current SP (22 cents)?

(just curious am I breaking forum rules asking the second question?

Thanks,
S


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## vincent191 (20 April 2010)

ANZ is still in custody of the huge bundle of BUL shares as a result of the Opes Prime saga. There was a court decision stopping ANZ from selling those shares pending further legal developments. DYOR, plenty of material on this topic in the public domain.

Some people fear if ANZ was to dump all of it then it may depress the sp (read previous post). Also some people speculate that if ANZ was to dispose of the shares, the existing substaintial shareholders may snap it up. 

Everything is pure specualtion and guesswork at the moment, many including myself would love to see this uncertainty removed/resolved and BUL will be re-rated.


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## vincent191 (28 April 2010)

Can someone help me and explain in simple terms what the latest BUL drilling report means?  Good / bad / indifferent??


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## Dukey (28 April 2010)

vincent191 said:


> Can someone help me and explain in simple terms what the latest BUL drilling report means?  Good / bad / indifferent??




I'd have to say indifferent - simply because they are not announcing anything in particular - just telling you what they are up to. where they are drilling when and what kind of holes.
nice to know things are happing though.

next announcement will probably tell what they hit in the stainburn downs 1 hole (which is going into the target seam now) - seam thickness, gas indications etc.

-d


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## insanedragons (30 April 2010)

*BUL Blue Energy*

werent these the guys that were on that OLN Network tv show on drilling ?
or was that mustang energy...


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## nioka (1 June 2010)

A lot can happen with BUL in the next two years.( And thats no bull}

1. The ANZ holding that is the subject of dispute should be sold. This large holding and the legality of the holding has created uncertainty because if it was dumped on the market it will cause quite a disturbance to the SP. Surely this will be settled within two years.

2. The exploration program has shown some promising results that should be proven as reserves within two years.

3. While there has been a lack of interest in carbon trading the reduction of greenhouse gas emisions is still necessary and will eventually favour gas over coal.

4. The Queensland government seems to be favouring the use of gas as a fuel. Stanwell are large shareholders of BUL and are a government owned power generator.

5. Kogas are a large shareholder and are South Koreas largest gas importer. The Korean situation at present is not helping the BUL SP. That will be resolved.North Korea are due to become another "East Berlin" and come in out of the cold.

6. BUL hae extensive lease areas in the right place at the right time.

7. The SP has fallen to a low that should make BUL a well priced buying opportunity.

8. China is an emerging market for gas. Australia is in the best position to supply that gas well into the future. I believe that China will be keen to secure a reliable supply for huge quantites of gas.

9. In addition to China there is a large gas market developing in Singapore and Japan.

10. Gas seems to be in an oversupply situation now and is having a negative effect on the SP of gas producers. I believe this could be reversed in the short term.

These facts should prove that BUL is a good long term buy.

DYOR. I'm often wrong.


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## Wysiwyg (1 June 2010)

nioka said:


> 3. While there has been a lack of interest in carbon trading the reduction of greenhouse gas emisions is still necessary and will eventually favour gas over coal.



Not in our lifetime. 


> 4. The Queensland government seems to be favouring the use of gas as a fuel. Stanwell are large shareholders of BUL and are a government owned power generator.
> 5. Kogas are a large shareholder and are South Koreas largest gas importer. The Korean situation at present is not helping the BUL SP. That will be resolved.North Korea are due to become another "East Berlin" and come in out of the cold.



The CQ liquefied natural gas projects are sourcing  natural gas from the Surat and Bowen Basins. BUL (in the distant future) will have two options. One is to link with the NQ pipeline down to the CQ LNG plants. Two and for the KOGAS interests, build a liquefied natural gas plant on the coast adjacent to the Galilee Basin. Probably around Hay Point. That could be year 2015 onwards judging by the stringent, exhaustive environmental impact policies and that regions infrastructure requirements.


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## nioka (29 July 2010)

The quarterly report is out. There are no surprises. The drilling results continue to prove up the resource. Kogas as a partner is still in the picture. The financial position is good ,it appears there are sufficient funds on hand to complete the resource assessment. The ANZ situation has not been settled but it should have no long term effect on BUL itself even though it seriously affects shareholders that appear to have lost ownership of their shares. I suggest the appointment of John Phillips as managing director is a good move.
I'm happy to hold BUL and with a little patience I look forward to it being a great long term investment

And,,,,, I believe in my lifetime (and that is running out) carbon trading will give gas an edge over coal.


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## J&M (29 July 2010)

shares are trading at 14c to 15c I have an order in at 13.5 
Im in for the long haul 

from 95 to 05 they paid a dive what happened to the company in 05 to change this 

like you say Noika good prospects


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## nioka (25 October 2010)

From Page 10 of the annual report;

Blue Energy?s Mission: 
Blue will be in the ASX 200 List within 12 months
Blue will be a profitable energy producer within 3 years
Blue will have a significant reserve base
Blue will have a significant and diverse exploration portfolio
To achieve our Mission: 
Blue Energy will conduct its activities with technical rigour combined with peer review of technical assumptions and findings.
Our focused commercial objectives are: 
To have Certified Reserves with 18 months, and
Revenue within 3 years

Note they say "will be" not "hope to be". It has been a rough time lately but "Their time starts NOW".


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## Miner (26 October 2010)

nioka said:


> From Page 10 of the annual report;
> 
> Blue Energy?s Mission:
> Blue will be in the ASX 200 List within 12 months
> ...



Hi Nioka

Thanks
I am no more a BUL holder
Did you find out a road map given in the annual report demonstrating how they are going to fulfil the mission statements ?

I have often got caught on so called mission statements without backing of a solid business plan.

Just my thoughts and not any thing particular to BUL (sorry for slightly off the topic)


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## nioka (5 November 2010)

Miner said:


> Hi Nioka
> 
> Thanks
> I am no more a BUL holder
> Did you find out a road map given in the annual report demonstrating how they are going to fulfil the mission statements ?




I believe that the road map has been spelt out clearly for some time. Proving the resource is ongoing. The association with Kogas and Stanwell is ongoing.

The fact that a director has just purchased a good bundle of shares at an average price of 12.5c on market means two things. Firstly it means that he has confidence that progress is being made but it also means that there is no great news about to be released or he would be guilty of insider trading. My target for this one to pay off was a two year one. While I still place BUL in the spec class I do not have it sitting in the corner wearing the dunce's hat. 

At this stage I am a little disappointed with the speed of the progress but there has been political problems for coal seam gas that have rocked the confidence in the industry in Queensland and NSW. I believe these problems will be overcome.


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## vincent191 (5 November 2010)

Until BUL can prove up a reserve it is still an exploration company but they do hold some highly promising tenements and boast off two very prominent shareholders the Queensland Gas Company (I forgot the name) and Kogas.

Early drilling results are promising they have found coal but need more work done to establish how much gas can be extracted from those deposits. They had 3 rigs drilling and setting up a couple of pilot wells.

BUL has plenty of cash and Kogas is agreeable to fund BUL's further exploration budget if needed. All we need is BUL to proof up a commercially viable reserve and it will be happy days. I hold BUL.


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## vincent191 (15 November 2010)

Pending shareholders approval tomorrow BUL will issue 100 million shares to "sophisticated investors" at 80% of average price over the last 5 trading days. IMO normally "sophisticated investors" mean family and friends. I guess that means there should have good news soon and the Directors are looking after number one - themselves.  The MD has also awarded himself huge parcels of performance options.

On the surface it looks questionable but isn't every other Company doing the same? I don't really care as long as the Directors add real value to the Company. My guess is BUL is close to announcing good results in it's pilot gas wells and a healthy reserve.

If it can be proven that it's neighbour, Arrow Energy's deposit continues into BUL's acreage BUL will go into orbit. All this is highly speculative and a lot of reading between the lines. BUL had always promised a lot but up to now delivered very little. Now that we can see the sophisticated money maybe something is happening.


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## nioka (3 March 2011)

nioka said:


> I believe that the road map has been spelt out clearly for some time. Proving the resource is ongoing. The association with Kogas and Stanwell is ongoing.
> 
> The fact that a director has just purchased a good bundle of shares at an average price of 12.5c on market means two things. Firstly it means that he has confidence that progress is being made but it also means that there is no great news about to be released or he would be guilty of insider trading. My target for this one to pay off was a two year one. While I still place BUL in the spec class I do not have it sitting in the corner wearing the dunce's hat.
> 
> At this stage I am a little disappointed with the speed of the progress but there has been political problems for coal seam gas that have rocked the confidence in the industry in Queensland and NSW. I believe these problems will be overcome.




Four months since I posted the above. Four months of frustration and very little change. Kogas have renewed their option, that at least shows that they are still in the picture. Test wells are being dewatered and that is a sign that the political problems are being managed. The long wet has delayed work but that appears to becoming less of a problem.

Am I still holding? Yes. Do I still consider BUL to be a good spec at the current SP ? Yes.
 Am I still accumulating ? Yes, (in a small way, trading for freebies).


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## J&M (7 March 2011)

nioka said:


> Four months since I posted the above. Four months of frustration and very little change. Kogas have renewed their option, that at least shows that they are still in the picture. Test wells are being dewatered and that is a sign that the political problems are being managed. The long wet has delayed work but that appears to becoming less of a problem.
> 
> Am I still holding? Yes. Do I still consider BUL to be a good spec at the current SP ? Yes.
> Am I still accumulating ? Yes, (in a small way, trading for freebies).




Welcome back Nioka your imput is aways welcome


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## nioka (1 April 2011)

Hopefully today is the start of the revival of the BUL. Following a trading halt they have announced a capital raising to fund the proving of a commercial resource. The good news is that one of the subscribers to the funding is Phil mathews who now holds more than 5% of the company. He has a history of successful participation in the CSG industry and his participation is another vote of confidence.

I still have confidence that BUL will pay off for me. At this stage I am down almost 50% and it is not usual for me to hold something with that sort of loss. Hopefully it is up from here. I will be buying and averaging my price down now. DYOR, I've been wrong on BUL so far.


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## J&M (1 April 2011)

nioka said:


> Hopefully today is the start of the revival of the BUL. Following a trading halt they have announced a capital raising to fund the proving of a commercial resource. The good news is that one of the subscribers to the funding is Phil mathews who now holds more than 5% of the company. He has a history of successful participation in the CSG industry and his participation is another vote of confidence.
> 
> I still have confidence that BUL will pay off for me. At this stage I am down almost 50% and it is not usual for me to hold something with that sort of loss. Hopefully it is up from here. I will be buying and averaging my price down now. DYOR, I've been wrong on BUL so far.




I'm only down 30% could have brought cheaper then you mate 
However re the average down will have to sell other shares which I don't really want to do.  But this could depend on the cap raising price....

Do you have any more info on Phil Matthews


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## nioka (1 April 2011)

J&M said:


> I'm only down 30% could have brought cheaper then you mate
> However re the average down will have to sell other shares which I don't really want to do.  But this could depend on the cap raising price....
> 
> Do you have any more info on Phil Matthews




Matthews Capital were big holders in AOE.(I did very well with AOE). They also hold DTE which is another CSG company. So overall they have experience with CSG companies. They are well respected in the stock market for making good decisions by buying in at a bottom. I'm positively influenced by their involvement. Elders is a case that comes to mind. I dont know if they still hold but it did go up solidly when they bought in. 

Remember that BUL also still have Stanwell and Kogas as large shareholders. BUL will have the backing if they prove up quantities of gas. indications are there that they will.


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## vincent191 (20 May 2011)

nioka said:


> Matthews Capital were big holders in AOE.(I did very well with AOE). They also hold DTE which is another CSG company. So overall they have experience with CSG companies. They are well respected in the stock market for making good decisions by buying in at a bottom. I'm positively influenced by their involvement. Elders is a case that comes to mind. I dont know if they still hold but it did go up solidly when they bought in.
> 
> Remember that BUL also still have Stanwell and Kogas as large shareholders. BUL will have the backing if they prove up quantities of gas. indications are there that they will.




They have been trading in a very narrow range around 9 cents. I guess everybody including "insiders" are waiting on the results from the pilot wells. If there is a significant gas coming out......this rocket will lift off. 

We should know the results soon, they should have finished pumping out the water from the flood by now. The longer it stays around the 9 cents mark, the more worried I am because usually somebody knows before the market gets informed.


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## tezzdoggy (15 August 2011)

hey im abit of a novice at shares but i bought this stock bul the other day aswell as ctp just wondering if anybody has any advice on this stock?


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## TabJockey (15 August 2011)

tezzdoggy said:


> hey im abit of a novice at shares but i bought this stock bul the other day aswell as ctp just wondering if anybody has any advice on this stock?




My advice: seek advice before you buy the stock.

This is not to be taken as financial advice...for that you will need to see a financial advisor.


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## vincent191 (26 August 2011)

tezzdoggy said:


> hey im abit of a novice at shares but i bought this stock bul the other day aswell as ctp just wondering if anybody has any advice on this stock?




See their latest announcement & investors presentation (24 Aug).  Very exciting junior explorer.  As with any explorer if they can proof a large reserve the sp will go up many times (see BOW) but of they don't find anything of value your investment go down the drain.


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## mgf897 (17 April 2012)

Newbie here. Am I interpreting todays announcement correctly? There's a 6.25c SPP coming up?


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## pixel (24 September 2014)

After months of indecision, BUL has again popped up in an Analyser Scan of mine:





I trust that someone may be able to shed light on the long silence and potential Market expectation?

Disc: I'm buying at these levels. Purely T/A spec, so DYOR and FYOP


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## skc (24 September 2014)

pixel said:


> After months of indecision, BUL has again popped up in an Analyser Scan of mine:
> 
> View attachment 59545
> 
> ...




You jinxed it!


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## pixel (24 September 2014)

skc said:


> You jinxed it!
> 
> View attachment 59547




Sure did  

... it happens ...


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## pixel (27 September 2017)

no longer a penny dreadful.
and today comes another breakout.






I hold.


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## greggles (28 September 2017)

This stock has been flying under my radar but it has been on a steady upward trend that has only accelerated in recent months. I wish I had bought into this 12 months ago but I didn't notice it until recently. What a great little performer. 

Well spotted Pixel!


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## greggles (7 March 2019)

An increase in volume in Blue Energy recently, especially the last couple of days. The company released a March 2019 Investor Presentation on Tuesday which would account for the increase in volume yesterday and today. Interesting reading.

The company also got a mention towards the end of this article: *Australia to become world’s largest gas exporter, so why is it planning to import more?*

Watching this one with interest.


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## System (15 April 2019)

On April 15th, 2019, Blue Energy Limited changed its ASX code from BUL to BLU.


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## Smurf1976 (22 April 2019)

greggles said:


> The company also got a mention towards the end of this article



I've posted various details in the Leigh Creek Energy thread and also the Future Of Energy Generation & Storage thread but in short there's an abundant market for whatever gas this company can produce. They won't have trouble selling it that's for sure.


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## Ann (22 April 2019)

Thanks Smurf, I am on the lookout for gas stocks after reading many of your power generation posts.

This first two year old chart appears to be showing the price for BLU still to be under the prevailing overhead falling resistance line coming from November '17. There appears to be a double bottom at .040c
There was a massive spike of volume June 21st '18 on the way down at between .093c to.098c from back in June '18 which is likely to offer some serious selling pressure at that level. 
The two horizontal lines show the area of potential resistance when the price rises above its current levels. A good story will no doubt overcome this area as it is quite a confined level.

On the second chart of six months with a closer view, you can see the volumes have picked up with a recent falling away since the beginning of April, this may be in expectation for higher levels, perhaps an attempt to jump above the falling overhead resistance line. Not that it really needs to as it will soon be clear of the overhead if it just travels sideways for a bit.


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## greggles (12 April 2022)

BLU took off a few weeks ago and is still looking bullish. In a response to a speeding ticket from the ASX the company stated that the share price increase could be connected to the "_current tightness of gas supply to the East Coast market_" and that on 25 January it announced that it had "_independently certified contingent gas resources of +4,476 PJ, 2P reserves of +71 PJ and 3P Reserves of +298 PJ_"

Management has said that it will commence a reserve build drilling program in June this year in the North Bowen Basin to move contingent resources to reserves. It also has plans to commence pilot well drilling in its Production Licence Application areas in the North Bowen Basin permits in June this year with a view to build the 2P reserve base and demonstrate deliverability for the gas supply agreements it has executed plus to confirm the economics of a Moranbah to Wallumbilla interconnect pipeline.

BLU currently at 12 month highs and is looking like it may have a little more petrol in the tank in the short term.


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