A welcome announcement, but I am hopeful that the fact BRU has...

A welcome announcement, but I am hopeful that the fact BRU has been busy on the approvals front in regards to further undertake Airborne geophysics (and it also shows that the Apache farmin of $25 million was flexible as it is only covering that acreage) and arguably, more importantly, preparing for the upcoming drilling campaign (the first well I assume is going to be Olympic-1 since everything is ready) followed by these is the real reason that BRU is now getting some interest.

Environmental Assessment and Regulatory System



From memory, the locations are as follows.

Praslin-1 in between Yulleroo and Ungani fields (covered by the new 3D seismic)
Senagi-1 in EP 458 (shallow well with oil known to be there)
Wright-1 (im guessing its in EP 457)
Ungani Southwest-1 in EP 391

So that should mean we are looking at a minimum of 5 exploration wells. Most importantly, most of the wells are actually on the Ungani Trend.

Then you have the unconventional testing and hopefully, further farm-outs. Eric must realise by now, that its now or never for BRU. Get someone else to drill the Acacia wells if Apache is not interested etc.
Although if we do have some successes under the ground, perhaps BRU will be able to achieve more than what is currently planned.

Still hoping Ungani-3, Ungani North-1 and Paradise gets tested ASAP.

I really do hope BRU is able to get the pipeline laid this year (it is more than achievable considering how long they have had to plan it all!!).