"So is a private company too ? Who owns it and how much money do...

"So is a private company too ? Who owns it and how much money do they have ?"{

The announcement provides details of who Sabre Energy are:

"About Sabre Energy Sabre Energy Pty Ltd (Sabre) is a private Australian upstream energy company focused on assets that deliver accelerated revenue and sustainable supply generation. Sabre is chaired by Mr. Allan Bougoure, a veteran of the resources industry, and Managing Director, Mr. Regie Estabillo, an experienced petroleum engineer and former Chief Operating Officer of Omega Oil and Gas (ASX:OMA).

Sabre specialises in the exploration, appraisal and development of critical onshore energy assets that support local and regional economic growth while helping preserve Australia’s energy security.

Sabre is supported by experienced energy professionals with specialist skills and experience in commercialising Australian onshore energy assets. Sabre is actively investing in Australian onshore oil assets, most recently farming into PELA 679 in the Cooper/Eromanga Basin.

Sabre’s investment in the Ungani Oilfield in Western Australia’s Canning Basin is an exciting addition to the company’s growing portfolio of first-class resources assets. Sabre recognises the immense potential of the Canning Basin and is committed to further investment as a trusted partner with Buru to help unlock the basin’s energy resources."

How much money do they have ?

They may not need a lot of money to start. It depends on timing:

"Sabre to earn a 70% interest in the Ungani Oilfield for a consideration that includes a $6 million farm-in carry, with Buru retaining a 30% working interest in Petroleum Production Licenses L 20 and L 21.

• The Transaction includes a structured transition of operatorship from Buru to Sabre, a contribution by Sabre of $1.0 million towards the cost of restarting production from the Ungani Oilfield as well as a $5.0 million carry towards the drilling of the high potential Mars exploration well located approximately 9km north of the Ungani Production Facility"

From Buru's 2022 Annual Report, Ungani Oilfield Production from the Ungani Oilfield for the year ended 31 December 2022 totalled ~189,000 bbls at an average rate of ~517 bopd. This produced revenues of A$27.8M for 100% and costs of sales of A$14.6M for a cash flow of A$13.2M:

Buru's 50% share :


They may be able to fund the A$5M carry towards drilling from their 70% cash flow from Ungani once production has recommenced.

Hopefully Buru management know what they are doing!

Regards

SP



"