bru vs nse geology, page-12

Buru's 1177mmbbl figure was quite clearly stated as condensate associated with the large volumes of gas (from mostly unconventional but some conventional horizons) as all gas from the Laurel so far has proven to be very wet. They've done pin point stimulation and analysed associated condensate from actual flows. It's not really a point of argument that they're sitting on a large condensate resource. Just how large is obviously something that we'll know in the fullness of time.

The Ungani trend is a conventional trend of a filled to spill 3 billion barrels. They've published 300mmbbl as a 10% risked amount. Given the first two drills have had some success it seems likely that the 300mmbbl target is a fair one.

And of course we have oil shows in Buru's Goldwyer. They have previously stated this could hold up to 3 billion barrels of shale oil. Of course this isn't anywhere near as advanced as their other prospects.

So we have flows of wet gas and conventional oil proving the prospectivity of the first two areas and shows in the beginning of proving up the Goldwyer. It's relatively safe to say that even if the P50 numbers turn out to be optimistic, if their unconventional prospects prove commercial in full production testing Buru will be swimming in oil. And if not, they might "only" have hundreds of millions at Ungani :).