Not sure how many of you on here follow tBuru.
For those who don't, yesterday Buru entered into a state agreement with the state of Western Australia under which it is, amongst other things, not required to relinquish 50% of the permits every five or six years.
Instead of the normal relinquishments, Buru has been granted a permit life of 25 years with a further option for another 25 years.
This is to allow Buru the opportunity to fully explore the acreage that it has in the Canning Basin recognising the different time frames required for unconventional oil and gas.
In return, Buru is required to commit gas for domestic consumption.
Perhaps Beach should be seeking to obtain similar in South Australia.
Once again, WA leads the way and secures its energy future.
wa developments
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