BRU 2.50% 7.8¢ buru energy limited

Ann: LOI Executed for Canning Basin Drilling Campaign, page-29

  1. 119 Posts.
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    20% decline in 2P+ 2C
    2025 production guidance weak along with very high capex
    not a sustainable plan, looks like basket case

    So needs strategic growth asset
    $1bn EBITDA so has cash for M&A
    Also trading cheap at 3 X EV/ EBITDA

    Perfect match at 1:1
    Short BPT : Long BRU
 
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