Hi CEO, I feel it would be safe to assume that some level of...

Hi CEO,

I feel it would be safe to assume that some level of communication might have occurred between Black Mountain and Buru, for a couple of reasons.

1. Buru had been managing all of the NT related negotiations and basically acting as a middle man for Mitsubishi with EP 371. It is unclear at this point whether this agreement continues with Black Mountain and Buru, at a guess, I think it would have been watered down, or stopped, as BM would surely prefer to be 100% in control of activities etc.

2. Potential drilling - yes, and no. No because as I understand it Black Rock does not plan to drill in 2020, but instead in 2021 with a large fracking program. They are only looking to do 3D next year. So.... while they may be talking about potential synergies, its still far in the future. I would have thought that Buru/REY/Thiea Energy would be more likely talking about rigs, assuming all 3 actually do undertake ground operations.

3. Pure speculation on my part.... BM may have already talked to Eric about Yulleroo, but at a guess, Mitsubishi's acreage offered a much easier and guaranteed investment, with the NT group 100% behind development, unlike the Yaruwu mob.

In regards to T/O, I don't expect one in the near term. Simple as that. Eric wants to drill a couple more wells, and until that is done, well, the company will be his to lead....
But to me, that all changes if either Thiea prove up the Goldwyer, or Black Mountain prove through their 3D (let alone the drilling in 2021) does show the Laurel to be a behemoth, then some other entity will swallow Buru up for peanuts. Whether its Twiggy, Black Mountain or someone else, I just feel the clock is ticking.

As for whether games are being played.. I personally think not, right now, Buru is licking their wounds from a very ugly year. I hope it is more going the way of your speculation, but.... while I continue to say I hold, which I do, that does not mean I am not bitterly dissapointed at how poorly all the Ungani operations were undertaken. Next year will be another where Buru has such opportunity, but... will it be squandered yet again... Oh how I hope not!!!!

Sorry CSB - I have said all I can and all I know, which really is not much.