BLU – Blue Energy | Aussie Stock Forums

[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]