Bought the Oil and gas prospect 'Buru Energy (BRU)' today due to big price drop after it announced a capital raise via 1 or 5 Rights Issue. I thought the share price has probably been unfairly hammered for a capital raising that is not too big (1 for 5) and company says the two major shareholders will support it.
BRU started producing oil at the Ungani project recently and says it has a operating margin of $25 to $30 per barrel and may improve further if oil price nudges higher... Also has some gas prospects in it's project pipeline.
