- There will be a lot more consolidations in Canning in the near future.
- Yes, unfortunately the small explorers will be taken over. Buru's SP price now is too low. I don't know why people don't understand 66 TCF of gas, 4 billion barrels of oil potential only as unconventional in Buru's acreage and over 300 million barrels of conventional oil in Ungani area.
- I don't know why people don't understand again; the value of "proven potential LAUREL FORMATION" in Fitzroy Through. The job is done. The formation is already proven by Buru. It contains multi TCF gas and billions of barrels of oil. That is it. It is proven that the Laurel formation is everywhere in most part of the Fitzroy Trough sub-basin. (It was going to be tested in Gregory Trough by our unsuccessful Lawford-1 well). It is highly possible that any explorer who can drill down to Laurel formation can get the tight gas out. This is like the coal seam gas potential of Bowen Basin QLD. You know what happened there. Coal seams were everywhere (in a trend), and everywhere was full of coal seam gas.
- Also you can see on Buru's latest presentation that there are many Ungani-like prospects and leads all around everywhere in Fitzroy Trough. Even Ungani looks like a small one. Buru says on their presentation "Ungani oil discovery in late 2011 opened a new play type with substantial regional potential"..."Huge area of prospectivity outside Ungani trend"
We need to open our eyes and look for the (geological) trends and possibilities. (I don't follow the market trends)
Good luck
NSE Price at posting:
58.5¢ Sentiment: Buy Disclosure: Held
