Wow that's a long time to wait. What Buru should be doing is...

Wow that's a long time to wait.

What Buru should be doing is pumping oil and the oil profits to fund further drilling etc

Now I know Broome well, lived there for several years from 2000 onward.

Even when I left the native title issues were horrendous, they actually wanted to stop tourist going on Cable Beach even then. Or how about the Federal funds provided to build a new old peoples home in Broome, as the native title owners couldn't agree for the homes to be built the feds took the money back. Guess what those home were to be used by the aboriginals.

Then James Price point and Kimberley land council (KLC) joining with the rent a crowd greens to kill that project off.

That's right the Browes Basin has over 3.0 billion barrels of oil equivalent and needs to be processed onshore, but unfounded worries on environmental issues and disturbing some of the 1,000's of old dinosaur foot print fossils made it all to hard for WPL.

WPL etal had already agreed to give the mobs over AUD 1.0 billion if the project went ahead.

Guess what the mobs got zero and most of the greens flew back home (they should have walked).

Then the mobs said can we have the money anyway...!

So if you really expect Buru to be exporting oil from Broome within the next 5 years I have to say you in dream-time again.

I have said before it has to be Port Hedland where you would be welcome with open arms hopefully!

Yes it is further distance to transport by road etc but doable and we would be making money sooner.

Other possible solution - long term.

If Buru can prove up a daily flow above 20,000 bopd you can build a pipeline to the coast and a loading bouy etc.

But there is zero chance of that happening as Buru has zero funds, planning to drill only one well next year!

What a disaster!

But it get worst.

Here what Eric said in April 2012 after Ungani 1 results

Major follow-up potential

• Immediate area of prospectivity on current data
covers 120 kms by 40 kms (+1 million acres)

• Buru regional prospect review of Mean Risked
Potential Resources for the greater Ungani
exploration area of in excess of 300 million barrels
of oil on a risked basis (average risk weighting of
10%)

• Currently 4 drillable targets close to Ungani with
more than 20 leads and prospects identified

• Targets under evaluation for drilling in Q2/Q3

It never happened!

Currently Buru has no idea how big Ungani oil field is, two producing wells and a third a complete dud.

Hello, any petroleum geologist knows that you can not predict where you have a dolomite derive porosity, yes you might get lucky with 3D seismic amplitude effects but to really know you have to drill.

So drill the Ungani field cheaply with slimhole and core the whole section. There has be zero news from Buru since the fiasco of Ungani 3 at defining how big the producible Ungani field might be. Buru has no idea, even the reserves numbers are clueless as they are based upon two producing wells drilled close together and a third dud kilometers away. In my view based upon released pressure information the current wells have resulted in minimal pressure drop within the reservoir and the field is magnitude bigger in size. But that is me being positive.

So here a simple game plan for Eric

1, Produce oil from Ungani and export via Port Hedland forget about Broome

2, Define the extent of Ungani by slimhole drilling, they can drill slimhole with 3.5 inch hole to a TD of 2,300 m. Which is deeper than the oil leg at Ungani, recover core and test using slimhole testing tools.

Hell I would complete in slimhole!

Still no reason to buy any which way I look at Buru.

So do I sell my underwater small stake?