Theres no real info apart from the recent prospect blob map - 3D doesn’t go far enough - does show key isopach (green zone above target) thinning which implies a regional high at target level. Looks like reservoir levels are continuous but can't confirm if there's a closure or trap.
Regionally expect there has to be multiple closures like RAF, perhaps some with common G/O/W contact? Need an exploration well in 2024 along with the RAF appraisal drilling. Separate exploration farm-out?
The 2H IPO could be structured like this.
Share count rules are:So each tranche is 670/5 = 134m shares
- 1/3 BRU keeps (escrow)
- 1/3 to shareholders as dividend- ratio 5:1 (no escrow)
- 1/3 new money/IPO
Then can raise $33m at 25 cps
So total is 402 shares and market cap $100m … to start
BRU has potential to be seen as hydrogen play- 2H plus Broome emerging as hydrogen hub - mix of renewables, CCS gas, LNG export, conventional liquids export
Key event near term is partner selection - will take a while as need revised resource estimate for RAF and also a defined regional prospect resource potential - need somebody with risk appetite, commitment and funding that will deliver through to FID
Story going to accelerate very quickly 2024 with above - define model and resources, farm-out, drill to verify (the more 2024 wells the better), define scope and scale of hydrogen park, access capital markets (project finance / debt etc ) - chart will be impressive, possibly exponential, painful comedy valuation phase almost over
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Last
9.6¢ |
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Mkt cap ! $64.44M |
Open | High | Low | Value | Volume |
9.5¢ | 9.6¢ | 9.0¢ | $58.54K | 641.0K |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 30000 | 9.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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9.6¢ | 7967 | 1 |
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No. | Vol. | Price($) |
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4 | 86944 | 0.090 |
2 | 34000 | 0.089 |
2 | 40000 | 0.088 |
2 | 70000 | 0.087 |
Price($) | Vol. | No. |
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0.096 | 7967 | 1 |
0.097 | 603621 | 2 |
0.099 | 153686 | 2 |
0.100 | 215053 | 1 |
0.105 | 336442 | 2 |
Last trade - 16.10pm 21/05/2024 (20 minute delay) ? |
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Last
9.3¢ |
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Change
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Open | High | Low | Volume | ||
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Last updated 15.58pm 21/05/2024 ? |
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