I can only agree Rabbi. BRU needs to get their s%^t together and provide a clear picture of what they have and plan to do. They keep dribbling info in regards to Ungani North, and now we have Ungani FW which, from the announcement is a good result, except they are not really telling us anything yet, or at least telling us anything in a way that the market can value (a further week to know for sure whether the Middle section holds any oil). Sigh, clearly the aquifer communication between Ungani, Pralsin, Ungani North and now Ungani FW is very positive, but.. again, no real explanation of why this is important for the layman. I wonder if they meant to leave out Ungani 3?
Also, are they actually thinking of doing a production test on Ungani FW... the announcement leaves a lot of unanswered questions. Eric states Anderson is a cheap well, we have a rig sitting there... I assume its pretty cheap as that is why they got it in. Would it not be cheaper to simply drill the well now? Perhaps its just not worth drilling due to the low POO?
Ho hum. BRU is keeping so quiet about everything, I just don't really understand why. Where is Ungani 2P reserve numbers, where are the Uncon resource estimates, Ungani North results? What advantage is there is keeping this info from the market.
BRU Price at posting:
26.5¢ Sentiment: Buy Disclosure: Held
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