BRU 7.50% 8.6¢ buru energy limited

Ann: Quarterly Activities and Cash Flow Report September 2016-BRU.AX, page-3

  1. 26,912 Posts.
    lightbulb Created with Sketch. 4603
    Confirmed the export route is Broome: "Discussions in relation to a potential pathway to export the crude through the Port of Broome " Let's Go, Yatchy!!

    Confirmed in gas farmin talks: "discussions with potential farmin parties for the further appraisal and development of the resource"

    Both good to hear.

    Now...some kind of discrepancy in exploration program, I'm not understanding, seems to say they have 10 oil drilling targets from the review:

    "Native Title heritage clearances and environmental surveys for up to 10 of these prospects will be undertaken during the next quarter to ensure locations are available for drilling during the 2017 dry season. Preliminary discussions with rig contractors for supply of a suitable rig for the 2017 program have also commenced. "

    then says they are drilling one oil well plus one gas well stimulation:

    "applications have now been approved, with the result that there are no further permit work commitments in 2016, and the 2017 field work program consists of one exploration well and one well stimulation with production testing. "

    anyone clarify that for me, are they talking about different things? I'm a bit slow at this time of the week...
    Last edited by CEOChair: 28/10/16
 
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