Hi Dozen
I have seen this chart before and with 20/20 hindsight marvel at how everyone at the time got ahead of themselves .
Great discovery well , booming oil prices , assurance that there was lots of other fields on this new play to be discovered .
Reality : Buru mk1 No cash flow , no viable oil export channel in place , spending lots of money beefing up to be an OIL COMPANY , dry holes on the first Wildcats on the Ungani Trend , a huge POO crash just around the corner and a partner wanting the JV to spend a lot of money on chasing the Gas Elephant .
We were supposed to be at about year 5 or 6 by now after discovering 2 more oil fields and producing 15000 bopd .
It might have happened if the POO had stayed high .
Buru mk 2 Lots of lessons learnt .
Lean and mean BUSINESS with Cash Flow as its Manta .
Buru Unleashed , great divorce settlement .
Methodically developing its assets putting in infrastructure to make it a low cost producer and give it resilience to the price fluctuations that the commodity it sells suffers .
About to find those fields that it was supposed to have found already .
I believe that it is very likely to happen .
If you are a pessimist by nature investing in oil explorers will be bad for your health .
gltah
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- Ann: Weekly Drilling Report - Ungani 5
Ann: Weekly Drilling Report - Ungani 5, page-79
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Last
8.0¢ |
Change
-0.001(1.23%) |
Mkt cap ! $53.70M |
Open | High | Low | Value | Volume |
7.9¢ | 8.3¢ | 7.9¢ | $49.91K | 610.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 131154 | 8.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
8.2¢ | 28653 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 131154 | 0.080 |
2 | 58983 | 0.079 |
4 | 44102 | 0.078 |
1 | 6700 | 0.076 |
1 | 8000 | 0.075 |
Price($) | Vol. | No. |
---|---|---|
0.082 | 28653 | 1 |
0.084 | 49000 | 1 |
0.089 | 6236 | 1 |
0.090 | 465966 | 1 |
0.091 | 50000 | 1 |
Last trade - 16.10pm 04/07/2024 (20 minute delay) ? |
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