BRU 3.49% 8.3¢ buru energy limited

Ann: Operations Update, page-7

  1. 11,852 Posts.
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    hOOts, I think that is a reasonable assumption, although for what its worth, I am unsure just what the market was expecting. Uncon gas flows still to come, Victory testing was a couple of weeks away if done anyway, but I agree not drilling Ophir is disappointing. Everything else is continuing, with some extra 2D seismic to ensure they have lots of targets next year.

    BRU have achieved a fair bit this year, but... still not passed muster IMHO. Of course, its easy to be a bit frustrated, but I guess I am just letting off some pent up expectations. ha.

    Anyway, I have grabbed 3 slides from presentations over the course of 2015, April, July and Sept.
    The oil business is a hard one, and many things can and do happen to interrupt planned operations... but still, these can be mitigated through careful planning, and the allowance of extra time to balance out the interruptions. BRU has never quite got that right... and yet I live in eternal hope that next year someone with organisational skills will hammer down a careful, well balanced operations plan....

    April -
    B1.jpg

    July-
    B2.jpg

    Sept- (what got achieved and what did not...)(I have altered the image a little to fit in all the planned work)

    B3.jpg

    Now to be fair, IF... Ungani FW is drilled and we actually get a result, BRU will have drilled 5 wells, and got results for 4.... so its not terrible considering its not in the Cooper Basin or in Perths back yard.

    Perhaps once we have the Uncon results, Ungani field 2P etc  Eric could take the time to provide some insight into what went right and wrong and how he will make sure things don't repeat themselves...?

    And I won't even get started on why U3 & Ungani north are not being tested!!!!!!!!!!!!!!!!!!!! grumble grumble.
 
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