My thoughts are if you make a discovery you stop exploration drilling and develop the field .
So the drilling for next year could be Kilto 1 (discovery ) K2 , k3 , K4 .
or Kilto 1 (Dry hole ) , Rafael 1 (discovery ) , R2 , R3 .
or Kilto 1 (Dry hole ) ,Rafael 1 (Dry hole , MUCH WAILING AND GNASHING OF TEETH ) ,Yakka Munga (Discovery ,HIP, HIP HOORAY ) , YM 2 .
Etc.
Buru needs to have a focus that it is an oil production business and that cashflow is king .
3000 + BOPD will build the piggy bank .
It needs to get Ufw into production as soon as possible , maybe after drilling U5 and getting U4 online .
Put a pump on Unorth and build a flow line before the next drilling season ,even if it only produces a couple of hundred bbls per day .
Just how bad is the wet at Ungani ?
There is no way Buru will farm out any of the Ungani field appraisal wells and I would not like to see the Ungani trend wells farmed out either .
Farm out gas exploration .
Farm out oil concept plays .
Be patient , the kitty is building , the whole oil sector is waking up .
All imho .
BRU Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
