I think there's hundreds of Buru shareholders that share your...

I think there's hundreds of Buru shareholders that share your sentiment to varying degrees.

Ungani has had the low hanging fruit picked and extracting the next quantum of oil is quite complex and prone to capital erosion and frustrating setbacks.
Yes, there are enticing analogues nearby, and if Buru had significantly more capital, it would probably be drilling them.
The reality though, is Buru are stretched and know another capital raise would be a poor choice.
So as much as the onshore Carnarvon permits and Ungani are still seen as prospective, Buru have chosen the low-risk financially conservative option.
That option has kept the momentum going for what they see as the biggest potential assets.

Bear in mind that most people underestimate the decommissioning cost and would be especially damaging to a company in Burus vulnerable position.

Yes, I'm frustrated that Carnarvon permits were released to Min res, but they're cashed up, and we needed to avoid another damaging cap raise.

Buru have reduced the Ungani liability significantly, whilst keeping a piece of the prospective pie. They have also ensured we continue to forge a path to a much larger revenue from Raf-1.
Shallow is now a game changer in terms of the funding for Raf-1 and our leverage in sealing a farm-in deal.

TN isn't an idiot and his execution of Burus success is probably far more important to himself than some of us realise.