Nice find, Musky. I wonder if someone like Ya can be persuaded to translate the clever geology geek speak?
I assume the significance for us investors of Buru producing a 2018 scientific paper would be for technical teams doing due diligence at our soon to be new partners?
While wondering where Musky came across this, I noticed some investor info on the Buru website with this information I hadn’t previously spotted:
Oil Production
▪ Oil production from conventional high quality reservoirs at Ungani oilfield (Buru 100%)
▪ Light sweet crude sells at a premium to Brent.
▪ Recently installed ESPs producing at 1,800bopd
▪ Developing extra processing capacity and wells targeting
3,000bopd in 2018
▪ Solid cash flow at good operating margin
▪ Target operating margin >A$40 per barrel assuming:
- 2,000bopd production rate - US$60 Brent oil price
- US forex of $0.75
I’m going to crank up the coffee machine and revise my previous numbers based on $25-30 margin at 1250bopd, Brent US$50 and 75c forex and get back to you shortly
BRU Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
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