Bru- Buru Energy Canning Basin Superbasin

[Crypto Crude]

i bought a chunk of bru today at 37.5c... i was tossing up a few stocks like hzn and sxy recently but think theres heaps of room for bru to again reach those dizzy heights of its past... some big drilling coming after the wet season...

[Crypto Crude]

bru is really struggling to break through 40 cents...
really excited about the future of this company... waiting patiently

[Crypto Crude]

super excited watching buru today////
I think this easily gets back to $1

^sc

[Corporate]

super excited watching buru today////
I think this easily gets back to $1

^sc

What's driving this sudden interest in BRU Shrewdy?

[Crypto Crude]

hey corporate... id say its mainly the dry drilling season coming on and buru have lots of drilling coming... whereas a lot of other oilers are churning along on fundamentals.. also other factors like change of oil market and native title agreement... bru is now my biggest holding... close at 63cents... holding through

[Rabbi]

Buru energy has been a major dud over the years but don't underestimate the determination of CEO Eric Streitberg to turn this unloved junior oiler

around. With production about to resume from four wells after tropical cyclones washed out the roads, and the oil price at an all time high this company

should be a nice little earner. 3000 barrels a day from their 100% owned Ungani discoveries with more exploration upside later in the year.

This is a pure oil revenue play but it looks like it's starting to take off as investors see further exploration underpinned by a

significant revenue stream.

DYOR

[bermuda]

Buru energy has been a major dud over the years but don't underestimate the determination of CEO Eric Streitberg to turn this unloved junior oiler

around. With production about to resume from four wells after tropical cyclones washed out the roads, and the oil price at an all time high this company

should be a nice little earner. 3000 barrels a day from their 100% owned Ungani discoveries with more exploration upside later in the year.

This is a pure oil revenue play but it looks like it's starting to take off as investors see further exploration underpinned by a

significant revenue stream.

DYOR

Rabbi,
Agree entirely. Pure revenue is about to pour into BRU's bank.

[Rabbi]

Apparently CEO Eric Streitberg got a standing ovation at the AGM today. Eric pulled the reins in after the
Oil price collapsed in 2014 and stopped production from their 2 producing wells. It was only late last year that they
restarted production, and after a capital raising at 15 cents Buru drilled 2 more development wells which were both successful.
One has tested at about 1200 bopd but they are having trouble getting the other one to flow, mainly due to drilling mud,
fluids, and shale falling into the well, after they couldn't clean up the well because the rig had to be moved to the
other site. Latest unofficial news was that this well was starting to flow although this was only AGM talk .

What you might call a comeback story with plenty more to come.

[upside_umop]

Agree Rabbi, the story is only in it's first chapter. I've been buying over the last 6 months or so and believe there is more to come. It will be volatile, as it always has been but a good pipeline of activity:

Ungani could be flowing 5,000 bopd by year end I believe. Eric has recently been touting 3,000 bopd but if you rewind a few years back, he was more confident at 5,000, 7,500 and even 15,000 if you read some analyst reports. 5,000 would be a step change in terms of economics and opens pathways to pipeline to the highway, Broome export route or other scalability options.
- Ungani 4 : Eric commented at the AGM that swabbing is going well and they're expecting it to flow soon. No reason to believe this shouldn't flow like the other wells eventually at sustained rates of c. 750 - 1,000 bbls a day (IMO)
- Ungani FW : To be revisited and potentially tied in to Ungani production facility. This drill was originally a surprise because aswell at Ungani dolomite, the Reeves formation came in with some pay - although not as extensive as Ungani dolomite, the Reeves is thought to be a lot more productive.
- Ungani West : To be drilled 100% BRU. To me this is more of an appraisal well and could quickly be tied in to Ungani facility infrastructure.
-Ungani North-1 : To be revisited. This is a large structure and estimated recoverable oil upto 40 mmbls in dolomite I believe....if we can get required flow rates from here it could be amazing. Also appear to be relooking at the Reeves formation here too..

Farmout activity
Then there is farmout discussions for a 3 well campaign aimed from the 3rd quarter of this calendar year - Kurrajong, Yakka Munga and Rafael ( this well deferred until next year due to rig requirements).

Gas and shale
The basin centred gas accumulation is there and once the WA Fraccing moratorium comes to the same conclusion as every other inquiry, Mitsubishi will start doing the donkey work on the Laurel which we can leverage off in our adjacent permits.
Twiggy will start doing his work on the Goldwyer shale which we also have extensive 100% permits over big prospective chunks.
I view these two as free options with large upside but don't attribute too much value atm.

Exciting year ahead.

Also have a few HZN, CTP and BUL - we really should get these threads going again as although a lot have been burnt over the last 4-5 years, this sector is hot. Obviously a lot of this is to do with the oil markets and geopolitical events which can dictate things a bit...

[Rabbi]

Upside Pretty good synopsis of where we are are at with BRU, but I guess only time will tell if it can achieve the Blue sky potential pundits once thought it had.

Without the gas , which was where most of the hype revolved, they have to rely on finding more oil, which, as you say, is always riddled with risk.
I venture to say the market will wait and see if they can resolve the issue with Ungani 4 before there is any more SP upside. Then it only a matter
of how much of the black stuff they can consistently produce and roll down the highway. Fair to say that a few who bought in at 15 cents will be taking a profit but
still looks cheap to me on the revenue metrics. Essentially they were running out of cash at the end of the quarter without any production, but now this shouldn't be a problem.
They also have to fund the upcoming drilling program and as yet no farmin partner has been confirmed, not forgetting the 7 million still owed to Alcoa.
So not all beer and skittles yet, but they are slowly getting there