Should clear up a few things

Dear Eric,

Many thanks for your reply, much appreciated. I was very pleased to read the ASX announcement soon after confirming the oil restart process was on track and confirming the Wyndham solution. I imagine the higher capex required for a Broome solution ruled it out at this stage, but look forward to the day when that becomes a necessity.
Would you be able to clarify one or two other questions I now have?

- Is it the intention that the Wyndham solution is "weather proofed" so that trucking may continue 365 days a year?
THE MAIN ISSUE IS THE ROAD BETWEEN HALLS CREEK AND FITZROY CROSSING WHICH CAN FLOOD IN EXTREME WEATHER EVENTS.

- is the initial "natural flow" 1200bopd production limited to Ungani 1/2? Is the intention to ramp up further when lifting equipment is installed dependent on anything other than practicalities eg oil price at the time?
NO - PUMPS WILL INCREASE PRODUCTION

- Is it the intention to tie in Ungani FW and Ungani North as soon as possible? I have not seen any update on the data crunching you have no doubt been working on and wonder if productivity estimates for those wells will be released?
UNGANI FW WILL INITIALLY BE USED FOR WATER DISPOSAL INTO THE LOWER ZONES BELOW THE OIL.  IT WILL BE PUT ON PRODUCTION WHEN WE HAVE AN ALTERNATIVE SOLUTION.  THERE WILL BE SOME DETAILS ON THAT IN THE NEXT OPS UPDATE.

- will an oil exploration program for this year be set out shortly?
AS SOON AS WE HAVE SOME CLARITY ON FUNDING ETC

- on the gas business side, are you in touch with the new WA Labor administration to clarify whether they really intend to press ahead with their 6 month blanket fracking moratorium idea which was idea #186 in their campaign booklet. I doubt it, their website presents their official policy only as a ban on specific areas in the SW. The PM seems to have taken notice this week of restrictions in other states like VIC, describing their onshore ban as "illogical and reckless" so I think there may be a mood at federal level to persuade the States to wake up to the imminent national gas shortage crisis and not to exacerbate the situation with restrictions on gas exploration and development. If Mark McGowan is intent on a 6 month moratorium so someone can explain the difference to him between shallow CSG and Deep Shale Tight Gas, best get it out of the way ASAP!
WE HAVE GOOD RELATIONSHIPS WITH THE NEW GOVERNMENT AND SPENT CONSIDERABLE TIME WITH THEM WHEN THEY WERE IN OPPOSITION.  WE WILL ATTEMPT TO SEE THE NEW MINISTER AS SOON AS POSSIBLE TO GET SOME CLARITY ON THEIR INTENTIONS BUT A SHORT SHARP PROCESS WILL BE WELCOMED.

- can I draw your attention to the strategic arrangement Senex Energy have recently completed with US fund EIG as a model that may suit Buru as opposed to a farm-in, if this is proving hard to conclude? I understand EIG have bought a 12% stake in SXY and are providing a $400m debt facility. I imagine retaining project control would be an attractive advantage in such a case.
AGREED, WE ARE DISCUSSING THESE SORTS OF ARRANGEMENTS WITH A NUMBER OF PARTIES - GETTING UNGANI BACK ON PRODUCTION IS THE KEY TO FURTHERING SUCH AN ARRANGEMENT

Thanks again for your time,

CEOChair




Top man, isn't he? Looking forward to some sensible commentary on above from Holders. May I just quickly say in regard to the last point...
OMG... WOW.