Easter Egg from Peter Strachan

Strachan must read HC, I asked only yesterday...

Some points on 1st glance:

- says H wells 5-8 times reservoir contact (in keeping with what I mentioned BPT reported with theirs) and expects 3000bopd and at A$100/b, net income $26.5m p.a. I calculate it as (100-30)x3000/2x365=$38.325m, he is downramping.
- he has not updated himself on the latest YM estimates, but has it down as worth 48c/s from paltry 29mmbbl discovery. Best Estimate is actually 66mmbls now with High of 144mmbbl. He still has Rafa as worth $1.25/s on Best Estimate 75mmbbls, which shows he is totally lazy as that is the same as he said in Jan 18 when Brent was A$84, so my numbers yesterday are the ones to go with, he is a real downramper with a poor work ethic.
- he says DOR need to come up with A$13-15m (well over 2x their MC!). He says “if Buru could retain a 60% interest in EP-129 and if gas has an insitu value of 40 cents per GJ, a Butler Sand discovery would be worth $1.42 per share to Buru.” Gas is too hard to calculate, so I forgive him the above errors and will go with this

... He is usually very influential when he publishes these - look out for increased volume as SP shoots up over next few weeks.  

https://www.buruenergy.com/wp-content/uploads/SpEd-BRU-180419.pdf
18 April 2019