Ann: Operations Update, page-4

Very happy to get this update indeed CEO.
A week early for the light vehicles means that when trucking is given the go ahead, everything on the ground will be primed. Plus they can continue work on the flowlines as of next week. Surely with the time they have both U4 & U5 will be fully hooked up?

As you noted, the heavy vehicle access could have slipped, but... they mention that all practical options are on the table to expediting that (so... maybe even a little earlier). Surely they can just spend a 10-20k on a few more truckloads of gravel to fill the gaps? Also, could they potentially just use a small tanker to carry the oil from the field to the highway and the larger quad trucks (just for the first 30 days to ensure the road is fully dry etc). Sure, it would cost more, but... easily worth it profit wise in the short term due to BRUs shrinking bank balance.

Interesting choice of working regarding the farmout negotiations. Proceeding satisfactorily does seem to be a lot more positive than in past announcements where nothing was given away. Drilling could start at the end of April, but... I would be very surprised to see that happen, considering that no farmins have actually been signed. I am sure that rigs are available so that won't be an issue (stating that long lead items are being secured means that there is almost a guarantee of some drilling, but... no way of knowing how much yet). I am really really hoping that 4 wells will be fully funded. Just too much potential in BRUs ground.

Funding wise, I believe BRU will be due a refund for the operations undertaken last year, but... not sure of the timing of when that might be. It should be a decent amount I am guessing, as seen from years past (will try and dig up the info later). That is of course assuming that the tax rules are the same etc.

btw - I don't think testing can occur until the tanks have access, as the tanks are almost full up...?