Hitting oil in the Anderson formation is definitely the bonus being a new play and cheap to drill. All we need is a a much higher oil price and these wells will generate good cash flow. For the present we are hunkered down to wait it out. No excitement for me until I see 5000 bopd with an oil price of $70 plus so it doesn't matter how prospective the Ungani dolomite and Anderson formations are or what the 2p reserves might be, unless oil goes up.
Not Eric's fault that oil price crashed but Id like to see more activity around the gas which is where the real value is for Buru shareholders lies. Time for a presentation or company update laying out the forward plan and getting on with it.
BRU Price at posting:
26.0¢ Sentiment: Hold Disclosure: Held
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