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.
BLU - Blue Energy
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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.
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.
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
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
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
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.
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!
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!
A bit of buying coming in on Friday. Monday might see new lows though!
Notice after close of market on Friday
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.......
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)
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)
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)
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
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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
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
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.
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
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
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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?
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??
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not advice - just opinion - D
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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
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
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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
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
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!
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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
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
