Proactive Investors Q&A with Eric Streitberg, page-15

Totally agree with all your points Bhutos.

More wells will also mean better pricing rates (with hopefully the right equipment to test on the spot)
More info about the true potential of the trend. Here is a image of Senex Energy's prospects they provided the market a few years back. I am 1000% sure BRU could provide something similar.... They have had quite a few wet seasons to correctly define where all the prospects are.

As show here, the Canning has been covered with 2D seismic, albeit a lot of it is quite old, but.. its enough to define a prospect (especially when some of them are quite large... 5+ kms etc)



(this is 1/2 of Senex acreage in the Cooper Basin).



To put it in perspective (again, just a basic attempt at conveying what BRU could do, but I expect a lot better, perhaps closer to Bhutos abilities). I have tried to get the scales as close as possible. The reason the Ungani trend extends so far off the Senex map, is partly to show you that it extends 300kms, and as you can see from Senex above map, they had close to 200 prospects within an area that comes close to the Ungani trends overall size. From what little BRU has provided over the years, we know that just in the very north western part of the trend, there are 20-30 prospects. BRU has admitted they are proving up more as we speak with the seismic....



Further to the prospects show on Senex map. The vaste majority of those prospects are usually 1-2 million barrels of recoverable oil...... whilst BRUs Ungani trend has fields like Victory with a possible 10-100 million barrels of recoverable oil. Ungani itself with its most likely 10mmbo recoverable, is the largest onshore oil field discovered in decades (except for the Bauer field in the Cooper Basin, and other than Bauer, they have not found big fields for decades, because the Cooper is much more explored than the Canning is). Even Praslin-1, a small well as described by BRU had a potential 10mmbo recoverable. 5-10x bigger than the average discovery in the Cooper Basin.

I could go on... If Victory was a possible 100mmbo field, then Yukka munga could be a 200-300mmbo barrel field. Yes..... it means nothing until drilled, but.. why not at least give the market an idea of what is possible. Why the cloak and dagger after years....and years of hearing how exciting the trend might be.

From all the files I have lying about, this is the closest thing to a map of some of BRUs prospects, but it gives very little away.... Nice little yellow dots for sure, but I think they can do better.



2 Rigs, starting in say May... (should be April, but with BRUs record to date, I hope May is achievable), they could drill 4-8 prospects, say 4-6 on Ungani trend, with Ophir and something else. I would of course like even more, but.... unless BRU bring in another party to help, I am guess they can only organise so much. Oh... and just maybe test a couple of wells...

For what its worth, I think BRU still has some flexibility in regards to how it might ensure it has enough cash to undertake the sort of drilling campaign we have always hoped for. BRU is still waiting for full tenement approval for a couple of tenements, which would almost automatically be farmed into by Mitsubishi, so that alone could tip in $20+ million. Then they can obviously farm down the BCGA, plus potentially the conventional gas prospects. I estimate that BRU will have approx $28 million as at March 2016, which if any of the above occurs, should ensure they are more than financially able to undertake a full and comprehensive conventional drilling campaign, with the heavy lifting of the tight gas being down by its J/V partners.