this is it, i just cut and paste, may give the proce even more...

this is it, i just cut and paste, may give the proce even more of a kick along


Buru Energy Limited (BRU)
Price Target Upgrade to A$5.00ps - 2 March 2012


BRU is focused on exploring and appraising conventional (oil and gas) and unconventional (shale and tight gas) resources in the onshore Canning Basin, Western Australia

Research Summary
We have upgraded our price target for Buru Energy Limited (BRU) from A$1.78ps to A$5.00ps which is supported by our DCF valuation of A$4.70ps. The upgrade is based on a view that the Canning Basin is shaping up to be one of the most prospective large wet-gas plays in Australia. Over the past 12 months BRU’s exploration and appraisal program has re-defined the prospectivity of the Basin by de-risking part of the geology and play types. We expect this to continue over the coming 12 months.
Our price target reflects value for the Yulleroo wet-gas and Ungani oil discoveries as well as a large risk adjusted component for the Valhalla regional gas resource. BRU is a geographically and technically focussed story with large upside potential with the prospect of S&P/ASX Index inclusion adding to the appeal. We retain our Strong BUY recommendation.

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Visit us online http://www.bby.com.au

Strong Buy 2.0X
TARGET PRICE A$5.00?
CURRENT PRICE A$1.82


Key Contacts



Scott Ashton
+61 2 9226 0051
[email protected]


BBY - Research
Phone: (02) 9226 0000
Fax: (02) 9226 0110