BRU 2.86% 6.8¢ buru energy limited

Ann: Rafael Test Completion and Corporate Update, page-130

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 473 Posts.
    lightbulb Created with Sketch. 153
    My guess is that the upper zones were causing drilling problems - lost circulation and/or gas to surface. Potentially quite dangerous (but a good indication). So they were cased off to maintain well control while drilling ahead to the primary target.

    BRU thought the lower zones looked great, and decided to go ahead with flow testing. Knowing they could revisit the upper zones at a later date, if needed. Maybe in this well, maybe in a future well.

    Changing the program to plug and perf additional zones would increase the cost of the testing program significantly (of course, bringing in a workover will be more expensive also).

    Maybe they've now decided those extra costs are justified, because they have a proven resource in place, and can be less frugal.
 
watchlist Created with Sketch. Add BRU (ASX) to my watchlist
(20min delay)
Last
6.8¢
Change
-0.002(2.86%)
Mkt cap ! $52.65M
Open High Low Value Volume
6.9¢ 7.0¢ 6.6¢ $102.6K 1.515M

Buyers (Bids)

No. Vol. Price($)
1 465427 6.8¢
 

Sellers (Offers)

Price($) Vol. No.
7.0¢ 107562 2
View Market Depth
Last trade - 16.10pm 11/10/2024 (20 minute delay) ?
BRU (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.