Dozen I could not agree with you more about farm ins and the operational freedom that not having a big brother brings
However when it comes to a Broome terminal , I am impatient , because there is a long lead time from FID to the terminal being operational .
Until the terminal is operational we are restricted to producing 3000 bopd , while this will produce a good cash flow , it is not enough to fund the drilling that needs to be done .This means that until Broome we have to have farm ins or capital raisings to do the drilling that needs to be done .
The pipelines can wait , but imo the FID for a Broome terminal should not .
I don't believe they need the reserves to finance the tanks .
Buru in the past borrowed 40 million dollars without having reserves .
It is doable , there is a compelling financial case for doing it .
Most of the capital spend is some time after the FID is made .
If land purchase is involved , settlement can be delayed while the permits etc are organised .
Hopefully we will hear from them soon .
We don't want to be building in a wet season .
NIWSU.
BRU Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
(20min delay)