re: Ann: Buru and Mitsubishi to Jointly Explo...
Not counting chickens MI; this is pure wildcat drilling over all with every well a long shot, particularly after the first two. But the basin is huge and needs serious money to allow the odds to work in favour of a true test of the area, and even then we might see nothing. But now at least they can preserve cash during the process, a huge advantage for a junior.
They flagged the farmout a while back and also flagged possible diversification. Let's see what happens as some less risky areas with more modest potential returns may help provide balance.
BRU Price at posting:
33.5¢ Sentiment: Buy Disclosure: Held
