Just a simple layman's update/reminder2024 big year.Buru have in...

Just a simple layman's update/reminder

2024 big year.

Buru have in recent times been largely able tostick to the designated programme.

· Resource update end Q1 – major item

· Contingent resources to reserves end2024 – major item

Contingent Resources are those quantities of petroleum which are estimated, on agiven date, to be potentially recoverable from known accumulations, but whichare not currently considered to be commercially recoverable.

Reserved resources are the resources that are defined and theirpresent amount is recognized, but since they are reserved for the future, theyare not being used

Buru Energy Ltd (ASX:BRU, OTC:BRNGF) CEO Thomas Nador provides an update on the excellent progress Buru has been making, not only on the game-changing Rafael conventional gas and condensate discovery in the Canning Basin of Western Australia but also the building momentum behind Buru’s subsidiary new energy businesses, 2H Resources and GeoVault.

Nador presented at a live webinar hosted byProactive’s John Phillips on Wednesday 29 November 2023.

The company recently boosted the coffers with a $5million share placement, with the objective of channelling the proceeds intodelineating the Rafael resource and fast-tracking its commercialisation.

Preparation activities include the confirmationof long-lead items to support the drilling of an appraisal well, and therecompletion and test of the Rafael 1 well, planned for the Kimberley fieldoperating season in the second half of next year.

RE above…

Appraisal well: exploration well drilled to establishthe extent and size of a petroleum deposit that has already been discovered bya wildcat well