BRU 2.17% 4.5¢ buru energy limited

1st question answered: Phase 2 – Install artificial lift system,...

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  1. 27,694 Posts.
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    1st question answered:

    Phase 2
    – Install artificial lift system, additional tankage
    – Target installation date late 2017
    – Production rate dependent on field performance in Phase 1, but aim is for increase
    – Costs ~$3 mm, funding under discussion

    2nd question answered:

    JV program has re-evaluated all data to define best targets for next drilling campaign
    ▪ Focused on Ungani trend
    ▪ Also focused on new plays from the Anderson/Reeves discovery in Ungani FW1
    Exploring potential funding for multiwell high impact program with 10 prospects being cleared and and EOI for rig underway

    Gas - not sure it answers how we fund it unless we completely fund it ourselves from profits, but Forward Program:

    Expected ultimate resource volumes will underpin long life and large scale contracts
    ▪ Project flow is to market initial tranche of gas to underwrite pipeline, facilitate development and to create project cash flow to fund further project expansion
    Last edited by CEOChair: 17/03/17
 
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