I think you are probably right on the Traditional Owner issues 848. They are probably trying to cover things comprehensively when you look at the last presentation, so until that is done i doubt that they will get their approval applications through for wells etc. But I think things are nearing that stage now, so we will probably see some form of comprehensive TO deal, followed by approvals moving forward and a rig deal all at once. The TO deal should fully align aspirations of key parties so less likely to see any further misunderstandings like that which occured during the 3D.
It is important that Buru do this properly so I can live with the delay. The upcoming program will be the most significant yet, and I am sure we will also see farmouts of the Goldwyer and possibly Acacia conventional targets. So while Buru may only run one key rig, we may have two effectively later, plus whatever NSE does. I think at some point we may see another rig target the shallower Anderson oil plays also.
BRU Price at posting:
$1.80 Sentiment: Buy Disclosure: Held
