Ann: Invitation to Shareholder Information Meetings, page-48

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jophda

4,804 Posts.

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18/05/18

17:31

Post #: 33198385
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Originally posted by jophda ↑

I think your impatience would be tame compared to the Buru Energy exploration team .They are unraveling the Geology and would be straining at the bit .
If they drill Yakka this drilling season that will keep them happy for a while .
Yakka is potentially a big field .
If it is a discovery the FID for Broome terminal should come the next day .

I really like the fact that Buru is a small lean and mean team at the moment .
It allowed them to survive the darkest days of $30 dollar oil and the downsizing to get there would have been hard on every one in the company .

However they do seem very slow planning and getting flow lines and hook ups done .
Every thing seems to be done in an over cautious step by step process instead of works being done at the same time .However I have a lot more faith in the ability of Buru Energy Mk2 than you have !!
I do think there is a Buru Energy Mk3 yet to evolve and that was what I was talking about in changing the company DNA .
It is probably more about management attitudes and priorities than any thing else .
We should not underestimate how poorly provided with oil field services and how difficult the climate is in the Canning and how easy it is to be an armchair expert .I worked in both the Cooper Basin and the Canning Basin and they were very different .The Canning Basin was hellish .

As a farmer I tried to do lots of things on the farm in house .Lots of gear going rusty used occasionally .
Took me years to focus on the things that made money and work out that the best Tractor was a conTractor .

gltah

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Spec I was talking about myself probably more than any of the other arm chair " experts " afraid it comes with being an old fart and working for myself most of my life , very opinionated but I mean well , lol .
Americans call us Monday morning quarterbacks .
We do fortunately have some people who do have some real expertise who post on these threads and we should listen to them .
gltah

BRU Price at posting: 38.0¢ Sentiment: Buy Disclosure: Held
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