Confirmed preferred Rafael Gas Project concept consisting of a small-scale LNG facility (250 tonnes per day LNG and 250 barrels per day of condensate production) situated on the Rafael 1 well pad. Final Investment Decision currently planned for late 2025 with production scheduled to commence in 2H 2027.
That’s ~A$100m pa revenue
During the year we undertook a comprehensive business review and implemented measures to reset the Company’s focus and capital to the development of the Rafael Gas Project… These measures include the deferral of all non-core Canning Basin exploration activities, a rationalisation of Buru Energy’s acreage position in the basin, and the monetisation of the Company’s 2H Resources and Battmin subsidiary companies or assets.
Might be worded badly, but suggests 2H has been monetised, done deal… imminent ann? Not that I would call Battmin monetised. Bestowed upon another entity, more like.
Discussions with potential partners to participate in the high impact Mars exploration prospect within the Ungani Production Licences continue.
I now suspect the most likely outcome is 100% sale for not much. Failing that, retain say 20%, give away operatorship, must include Mars free carry. Inconsequential either way.
DM: In September 2024 it became clear that Sabre did not have access to the funds they had committed and which had been separately verified.
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