"A key part of delivering the value from our Canning assets is to have a long term program utilising fit for purpose equipment so that we can drive long term cost and productivity efficiencies. A well defined program will also ensure that we have alignment with our Joint venture partners and the community. We have been working very hard on getting that program in place and we have now agreed our priorities and a forward program with Mitsubishi that will allow us to contract a rig for another two year program. That means we can get a fit for purpose rig that we can drill more effectively and safely with, and we are tendering for that rig now."
It seems unlikely that BRU would be tendering for a rig "now" if they had significant trad owners issues that Eric didnt think Bru could overcome.
BRU Price at posting:
$1.19 Sentiment: ST Buy Disclosure: Held
