Bru- Buru Energy Canning Basin Superbasin

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Things are getting crazy with this company. Is on track to be the onshore woodside...
Drill report this morning confirmed gas presence in the Laurel formation and if it does in the next drill too, it could mean there is 20 + TCF and 100's mmbbls of oil recoverable. FYI, 1 TCF of gas is around 160 mmboe of oil.

This co is now an $800m market cap, however it would only get tasty for the majors once it's $5b. So a bit of upside yet..

I think that is only for the Valhalla region and only the Laurel formation which is being extended by the Paradise 1 well and the Asgard well. One step at a time I suppose but it is looking promising.

Yulleroo 3 is also being drilled at the moment and it could prove up a lot more gas/liquids as well.

They have also applied for the production license for Ungani oil as per yesterdays announcement. This is for a whole oil field not just one well.

Good luck to all holders