The SPP closes 5 April....SPP is 6.25 cents per share. Current price 9.9 cents. Max A$15,000. If SP holds A$8,760 profit in the trade.....risk is that SP falls back closer to allocation date!
Gazprom
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The SPP closes 5 April....SPP is 6.25 cents per share. Current price 9.9 cents. Max A$15,000. If SP holds A$8,760 profit in the trade.....risk is that SP falls back closer to allocation date!
Gazprom
Sounds good Gaz. Anyone with an SPP form will be excited.
Scratching my head here. Does anyone have an idea why anyone would be buying at these prices and pushing up even further, given the price will likely fall back close to allocation price? Am I missing something here?
Soltrader,
The price is back to 8.8 cents as shareholders sell down the heads to get their spp at 6.25 cents. Best to think long term with BUL achieving 3000 3P. That, and Ellice-Flints Maryborough shale promotion could bring rich rewards. But don't count on it happening overnight. I have been waiting for years.
Thanks bermuda. The long term prospect is assuring. I was just wondering why anyone would be buying at, say 8, 9c or so instead of waiting for the price to fall (a very good certainty).
I guess it underlines how good the fundamentals are. Besides, in the final scheme of things, a few cents difference will be nothing.
As predicted by Soltrader... BUL hit a low today of 7.0. Fighting back now to 7.4
Keeping an eye on this one but no funds to do anything at the moment!!
Hi does anyone try to work out the scale back numbers?
Hi Timmy,
If you look at Rule 10 of the SPP document they state (from memory) that those that are not holding their BUL shares at the time of the SPP issue (sold shares ex entitlement but before SPP issue) will be first to be scaled back. Therefore, IMO, it would be near impossible to work out how many shares you will get. I have sold mine so not expecting any despite going for the $15,000 maximum.
Gazprom
I applied for 10000. :( I checked on computershare register not on my broker's account, Cheers.
The market seems to be taking an interest in BUL at the moment-something brewing?
Might be time to take another look at this one. Another CSG explorer with largest acreage (i think) on eastern seaboard. Director today purchased on market over 2m shares. Have been watching BUL for ages and took the plunge today on this news. Takeover discussion on HC (isn't there always).
BUL won't have the cash to develop their assets but other big players need their csg, and Eliice Flint knows that,consequently running the co. on a shoestring budget.
The longer this game plays out the more desperate some of the majors will be. But what BUL assets are worth to a Major is an open question. Certainly, Elice Flint knows how to play this game but I only hope he doesn't have to capital raise any time soon.
For those interested in CSG stocks in Oz this might be worth another look. An oldie but looking like being a goodie. For ages now nothing doing but has risen 25% in last few days incl. 9% today. This follows recent director purchase, I think was 3m shares. Volume recently poor but 8.5m in last two days and over 7m so far today. Largest acreage on East Coast.
Another nice rise today, Bermuda will be smiling.
Today's rise is largest of last few days, up 13% at time of posting. Every time you click on last sale is another gain. Over 7m traded.
He will indeed so long as he can attain targets attached to the options. Let's hope he has a big payday.
The resurrection of this stock continues. Up 16% today on 9ml changing hands. Bermuda and Ron will be pleased. Seems to be plenty of speculation that BUL has excellent prospects for conventional oil as well as their CSG tenements. Refer to recent presentation.
Not sure if many holders in NZ but just to keep all informed many developments lately inc. farm-in to vast NT oil tenement and 20% farm out of Marburg 1(oil). Drilling due to start on Marburg within few days. SP 10c close yesterday with seemingly plenty of interest today. Looking good.
ANZ exit BUL -10% stake - 114m shares in single trade. Buyer emerges JEF director just under 5% stake with remainder not disclosed. No price action on stock since disclosure but surely something is up.
Nat Gas has a huge future IMHO ....BUL gets a contract and pipeline which is looking very probable .... the valued added will be very impressive
to the SP
Attachment 8403
Good size pullback from the sellers today .....buyers going have to set-up to 3.2c >>
Pop goes the weasel 2.9c to 3.2c nice move today
Speeding ticket ...hit 3.8c thought about selling at 3.7c ....
chairman letter to S/Hs
http://blueenergy.com.au/files/media..._letter_v1.pdf
The big news is that everyone now understands that Eastern Australia needs more gas, and Blue Energy
has nearly 4,000 PJ of un-contracted gas resource to sell.
In the twelve-month period since our last AGM letter to you, there has been a slight recovery in the
international oil price. However, the reality is that this period has also seen the low point in the price
cycle (US$26.05/bbl on 11th February 2016) and the industry is still responding to the prolonged
downturn by continuing to cut costs. Globally, companies are still shedding staff, and not undertaking
discretionary expenditure on exploration activities. However, the “shrink to grow” strategy seldom
works. Most companies are also not taking the opportunity to install new systems and technology to
improve efficiency and productivity. Domestically, there have been large tracts of acreage surrendered
by companies to reduce exposure, which in turn delays the exploration process as governments then
need to turn over the acreage and re-gazette the acreage, resulting in more delays in discoveries. With
the oil and gas Service Company sector in Australia largely decimated, Government red and green tape,
approval delays and access to land further adding to the time it takes to get on with even the most basic
of exploration, the time from gazettal to production continues to balloon. That is, don’t expect to be
able to find new gas resources and produce molecules when they are needed.
A further irony in a gas short market is that domestic gas prices continue to increase, as the Curtis Island
LNG plants take more gas from outside their Joint Venture tenements (known as ”third party gas”), yet
Capital Markets are seemingly still substantially closed to explorers who need to fund activity for the
discovery and development of new gas resources to bring to a higher priced market. The volatility and
uncertainty of the global oil market has impacted on investors supporting the domestic gas explorers
and future producers in what has become a very attractive price environment for upstream Operators.
Blue has continued throughout the year to closely monitor its costs and steward its cash reserves. The
Company continues to be mindful of managing non-discretionary exploration program and expenditure.
The changing political landscape, where some State governments think that it’s appropriate to limit gas
exploration at a time of real gas shortage and state wide power blackouts, shows the growing
disconnect between those who would seek to access and deploy risked capital to discover and develop
new gas sources (the explorers) and those who rely on those resources to keep the State’s lights on and
their manufacturing sector strong and profitable (the politicians, who have empowered the fossil fuel
opponents).
So you a trader not a holder?
This one has been a sleeper; the Rip Van Winkle of stocks you might say and it's finally coming out of it's slumber.
Blue always did have great acreage but it missed out on the csg boom when companies were getting taken over about eight years ago.
Somebody is going to make money, probably J. Ellis Flint the CEO who just picked up 5% of the company.
He must think he can do a deal to supply gasl and make a tidy profit.
.Not one for the conservative investor.
I'm a sharetrader(paying TAX) but that doesn't mean I don't want to hold longer term and see more upside .
.
..like today I should have gone with my gut and sold at 3.7c to buy in again lower later in the day ..
many companies I've had interests in over the years like ROC I bought and sold many times over the years I held it ..
Of course the risk is the SP doesn't pullback and I miss out on a huge spike higher but that's the risk I take(best to only sell a half position) ....sometimes I can increase my holding by quite a margin from day to swing trading over a period of time thats to selling higher than the buy back...
had I sold at 3.7c I would have taken just under 4k in profit not bad for 12 days (using 10.6k in capital)
Ended up selling and now couple weeks later looking to buy for less than I sold(didn't get anywhere the 4.7c high but least it's now back to 3.5c ) ....had another good swing trade 15% in the meantime ....If I get my fill I'd be happy to hold it to next year min..
Well hope the smart money that has entered here will be correct move for also jumping on board
good to see BUL back over 4c ....trending slowly higher ...could be tempted to take another short term swing trade here
..... but going from the charts the close of 4.1c is the highest close since early 2014 so is looking very bullish ....we get a contract signed on the Gas and we will fly 10c+ in days
BUL holders will be interested in this release (a few days old).
http://blueenergy.com.au/files/media...nrmrelease.pdf
Blue Energy welcomes green light for Arrow’s Bowen pipeline
Blue Energy Limited (ASX: “BUL”) is pleased to note that the Queensland State
Government has approved Arrow Energy’s Bowen Basin Gas Export Pipeline Licence.
The construction of this pipeline will give potential gas buyers access to Blue Energy’s
Bowen Basin gas reserves and resources.
As reported in yesterday’s The Australian newspaper and the Gladstone Observer,
Queensland’s Minister of Natural Resources and Mines, Dr Anthony Lynham identified
this pipeline as a crucial “missing link” in the gas supply network on the east coast of
Australia.
Commenting on his approval of the pipeline licence, Minister Lynham said “We are
encouraging that pipeline. We want that pipeline to be hooked up because it’s an
important piece of infrastructure that’s been missing.”
The construction of this pipeline will mean that Blue Energy’s Bowen Basin gas,
consisting of Netherland, Sewell and Associates independently certified reserves and
resources, will become available to potential customers in the southern gas market, and
these volumes will play an important role in alleviating the gas shortage in the
manufacturing and domestic markets in Brisbane, Sydney and Melbourne.
13th June 2017
New Gas Development Plan lodged to unlock
Bowen Basin resources
Brisbane-based oil and gas explorer, Blue Energy Limited (ASX: “BUL”), is
pleased to announce further progress towards unlocking the potential of its large
gas resources in Queensland’s Bowen Basin region.
Blue advises today that an Initial Development Plan and Production Licence
Application has been lodged by the Company’s subsidiary, Eureka Petroleum Pty
Ltd, with the Queensland Government (QDNRM) for the development of the gas
reserves in the Sapphire Block of Blue’s 100% owned ATP814P permit in the
Bowen Basin of central Queensland (Figure 1).
Blue Energy’s Managing Director, Mr John Phillips, said today that the Company’s
proposed development of the Sapphire resource signalled to gas buyers that there
are low cost Australian operating companies with available gas reserves.
“Cooperation amongst gas buyers on the east coast to aggregate meaningful
medium and long-term demand volumes will encourage explorers and small
producers to seek risk capital to restart the exploration and production machinery
and meet the challenges of supplying gas users in an increasingly competitive gas
supply (and price) environment,” Mr Phillips said.
“Government must ensure these projects are progressed with priority and without
delay to ensure local industries are provided with gas in a timely manner and that
jobs are not only preserved but also created,” he said.
Netherland Sewell and Associates (independent Dallas based Reserve certifier)
estimate Blue Energy to currently hold 2P gas reserves of 71 PJ, 298 PJ of 3P gas
reserves and over 3,000 PJ of Contingent Resources in ATP814P.
Mr Phillips said that with construction of the missing gas pipeline link between
Moranbah and Gladstone, Blue’s reserves could be expanded from its very large
contingent resource base (3,000 PJ).
“More reserves can then be developed to meet the medium-term gas shortfalls in
both the Queensland and broader east coast gas markets and help alleviate the
longer term gas shortages being anticipated for Sydney, Melbourne and Adelaide
over the next decade,” he said.
The Bowen Basin is estimated to contain up to 11,000 PJ of discovered Gas
Resources, which is equivalent to 20 years of domestic east coast gas usage.
Mr Phillips said developing the Bowen Basin gas resources represents the fastest
solution to countering growing east coast gas shortfalls, given the area is already
a producing gas basin, with over 300 delineation wells having been drilled to
date to define the resource.
“The expedited connection of this large gas resource with a pipeline to the south
will contribute significantly to bolstering the energy security and gas supply to the
east coast of Australia,” he said.
Contact: + 61 7 3270 8800
John Phillips
Managing Director
Blue Energy Limited
credit suisse sydney energy conference today ..... BUL one of the very few with Major Gas resources uncontracted in QLD
you certainly get the feeling BUL SP is coiling up for impressive move higher in the 2nd half of the year ....came close to buying more today but might put it off to next week ....was looking like the SP would slip today but some Bidding strength has just appeared of late
Elice Flint has done a good job of sitting on the assets and cutting admin costs so we wait for the end game. I know BPT got rid of all their csg assets
ans SXY has had to get an investor with big pockets to get their wells into production. The acreage must be worth alot more than the market cap
but at the moment because of the low oil price there is very little merger and aquisition activity. Santos and ORG have too much debt already to be
distracted but surely JEF must be talking to someone about doing a deal.
Yes crude oil not a great place to be at the present ...but Aus east coast Gas is looking much more bullish over the short term thanks to stupid Aus Govt allowing the majors to cartel the market >>
http://www.news.com.au/finance/econo...d57453cfca0167
APA’S MOU WITH BLUE ENERGY TO CONNECT
NORTHERN QUEENSLAND GAS TO MARKET
APA Group (ASX: APA), Australia’s leading energy infrastructure business, is pleased to confirm that it has entered into a
non-binding Memorandum of Understanding (MOU) with Blue Energy Limited (Blue Energy, ASX: BUL) to work together
to facilitate options for the delivery of gas from Blue Energy’s gas resources in the Bowen Basin in north eastern
Queensland, to the east coast gas markets.
APA will work together with Blue Energy to explore the development of new pipeline infrastructure and other related
mid-stream infrastructure required to bring these new gas resources online. Any investment will be subject to the
satisfaction of a number of conditions, including gas resource certification, gas supply and transportation agreements
and final board approvals.
APA’s Managing Director, Mick McCormack said, “As an energy infrastructure provider, APA has been and will
continue to be part of the solution of getting more gas into the market to put downward pressure on the price of gas to
consumers. We continue to work collaboratively with existing and new customers in providing innovative new gas
transportation services, and we are pleased to be working with Blue Energy in their Bowen Basin project. The
interconnected nature of APA’s East Coast Grid enables potential new producers such as Blue Energy, to explore
opportunities to market their gas.”
Today’s announcement builds on APA’s Memorandum of Understanding with Comet Ridge (Comet Ridge, ASX: COI, 11
May 2016) for the development of a pipeline connecting the Galilee Basin to APA’s East Coast Grid. Blue Energy’s
Bowen and Comet Ridge’s Galilee projects have combined material resources to supply the east coast market with
additional resource options bringing more liquidity into the eastern Australian gas market. Developed independently or
symbiotically, these projects would result in the development of approximately 750 kilometres of greenfield transmission
pipeline and compression facilities for a total investment of in the order of $800 million.
“APA’s East Coast Grid is the only one of its kind in the world and enables large and small producers alike to respond to
price signals and get more gas supply to markets across the eastern states. Significant investments like these require
incentives to invest and the certainty of the rules around those investments for both the pipeliner and customers alike.
We look forward to working with all of our stakeholders – customers, community and governments – to bring these
projects to fruition, for the long term benefit of all Australians,” said Mr McCormack.
Nevenka Codevelle
Company Secretary
Australian Pipeline Limited
For further information please contact:
Investor enquiries: Media enquiries:
Yoko Kosugi Patrick Sinclair
Telephone: +61 2 9693 0049 Telephone: +61 2 8079 2969
Mob: +61 438 010 332 Mob: +61 403 708 431
Great timing JB, your'e a legend..
Only wish I got my fill arrgghhhhh looked good till open and all the bastards jumped my 5.8c bid ....still my 400k holding is now up over 10k profit .... APA spending 800mill is just briliiant news I don't know if I should chase it 6.2c or give it time to cool off it it does??
And on and on BUL trends higher ...... bids hitting the 7c wall (around 100k AUD in value) once broken will run quick IMHO next stop 7.5c
Yep. Nudged 7.2c and back to 7c. I think what will happen SP to consolidate at each milestone with decent gains one is reached. 1) confirmation pipeline is certain 2) GSA or GSA's 3) confirmation of funding/and or joint venture/and or major stake onsold/ or total sale of Bowen Basin asset. Probably other possibilities as well.
Big/ Huge volume today. Lots of opportunities in store
DYOR
Wish I had been with my pro USA relatives in Bermuda today.
tapping 7.4c ...Attachment 8947
its awesome to see at least one oiler show boating...
Yes well more so Aussie East coast gas plays shrewdy(high spot prices demand etc) ...I wouldn't touch anything else in the sector personal ...well not yet anyway>>>
RLE one I also like in the space
Sold the last of my BUL 8.3c .... more i look over RLE the more I think they will go for a strong run ....both in the same sector so hoping RLE will make me even more than BUL over the near term hold
Media report re East Coast gas shortage. Of interest for holders of all producers.
http://www.ntnews.com.au/business/co...801c332e683fbd
Yes is an issue not going away anytime soon >> glad to have taken my profits on BUL another pull back today to 7.2c ...would think it has run it course and should hold 7c ...any good anns and it will blow towards new highs
yeah great sell yet again jbmurc...
BUL seems to have broken out again on no news . Rumour suggests a Gas sales agreement might be in the wind.
If that eventuates SP could fly as they have the gas.
Always the same... buy the rumour...sell the news. Rumours of Gas Sales agreement or imminent takeover but no announcement so
we probably get a please explain speeding ticket and JEF will say it's all down to gas shortage and BUL is well positioned to supply etc. etc.
I'll give Elice Flint his dues he's played the long game well, conserved cash, pulled the reins in on costs , so all we need now is someone with deep pockets who
wants the gas.
[QUOTE=Rabbi;684508]The BUL run continues[/QA
And continues to run today, so far 8% on good volume each 0.5 increment taken out to 13c.
This is probably stretching it a bit but I could be wrong. It tool a breather at 10 cents and then took off again. 71pj of 2p and 298pj of 3p.
Huge contingent resource of 3942pj but lots of work to be done yet.
If you compare with Senex who are up and running it doesn't quite stack up.
BUL running hard on new research report with buy recommendation . There is still a question mark as to whether they can monetise the Gas in place but
Even their 2p and 3p must be worth more than SP so it may run further.
Still a fair way to run I think using your words Australia is short on gas and BUL have it in spades.
JEF must be laughing all of the way to the bank with his purchase of around 112 million shares last year. I am happy to hold at this stage particularly when a GSA is looming.
Holders of BUL will be aware of just how serious the gas shortage is East Coast Aust. For non-holders who have not paid attention to what's going on read the following:
https://blueenergy.com.au/media-item...-set-to-worsen
Valuation 55c from latest Analyst report
https://blueenergy.com.au/files/medi...inal250917.pdf
Bought into blue over the last couple of days. Surprised today's Ann didn't lighten up the sell side.
The bull run is intact. At open plus 10% on 2.52m shares. Should be interesting to see impact of Fed Gov. revised energy policy to be revealed shortly.
Latest media report to whet the appetite.
https://blueenergy.com.au/media-item...ng-opportunity
Blue Energy price has risen mainly on the size of the contingent resource they hold. Not being a producer there is no problem with them disappointing the market
at any time, so the acreage they hold is all you get but it is HUGE. The East Coast of Australia is short of uncontracted gas so the longer this plays out
the more valuable Blue's acreage will be. Not too sure what the admin expenses are but they are run on the smell of an oily rag so hopefully won't run out of cash
before they do a deal. Even if they did need to raise more cash they could easily do it at today's SP . Not a complicated stock if you look at the mathematics.
Interesting play today. Second largest SH (Stanwell) holding 87m shares 7.56% of register sells in one parcel. Market reaction on price is muted. Stanwell is a Queensland Govt. owned company. More to play out here. SSH notice will be all revealing. For those not au fait with energy situation on East Coast gas is critically short on the supply side, Blue Energy sitting on the largest uncontracted Reserves on the East Coast.
Yes very interested to see who purchased the shares
Looks as if a deal is imminent. Seven top 20 shareholders increased their holdings from May 23 from the 86m shares sold by Queensland owned company Stanwell Corp. inc. the likes of JP Morgan, HSBC, National Nominees amongst others.
Latest presentation today for Blue Energy
https://www.asx.com.au/asxpdf/201807...cgqwhc451c.pdf