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If the market wakes up and gives BRU the respect it deserves, then it might be able to ride the elephant for a few more years.
Woodside wasn't always such a big company.
But you are quite right, both BRU and NSE hold acreage the size of the Cooper basin's most prospective zones. That is enormous.
One presentation showed a map of Texas next to the Canning Basin. It really does put it into perspective. The place is HUGE and it is seemingly full of hyrdocarbons.
No way will either of these companies survive on their own. Too juicy.
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Changes is S&P indexes
Notice posted today by S&P indexes.
BRU will be in S&P ASX All Australian Index from 15 June 2012 after market close.
DTE Dart Energy and ERA Energy Resources Australia will both be out of this index and also the ASX200.
(E&OE)
Last edited by Toulouse - Luzern; 01-06-2012 at 03:28 PM.
Reason: To add ERA move
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Member
It was a really big week for Buru with big announcements and a capital raising to buy more interests in the Canning.
Asgard1 appears to be a great success with conventional & unconventional hydrocarbons. They had to deepen the well as they were still in the hydrocarbon zone at the proposed total depth. This well extends the Valhalla accumulation a further 35km(south east).
They will now be going to drill Ungani North 1 which has been drilled close to the target before rig problems caused the well to be suspended. This well only has about 250 m to be drilled before they should reach the target zone.
The extended production test on their Ungani oilfield is ongoing and they are very happy with the way it is producing.
They are also trying to lease more rigs to increase the drilling next year.
Lots of good presentations this week and they now have about 17 million acres in the Canning Basin.
www.buruenergy.com.au
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Great summary hal. I bought in this week BRU!
They have an absolutely dominant position and in 10 years if they aren't taken over, BRU could be the Woodside.
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Hi what do you guys think re REY's (i dont hold)position in this.They have 10 % free carried til production. Very arguably the best 10%.Will BRU buy them out or will REY somehow come up with the dough to prempt them. It seems that REY can stimy this deal and have first rights.Alot of heavy ramping by one transparent dominating poster on REY on another forum
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Member
 Originally Posted by Joshuatree
Hi what do you guys think re REY's (i dont hold)position in this.They have 10 % free carried til production. Very arguably the best 10%.Will BRU buy them out or will REY somehow come up with the dough to prempt them. It seems that REY can stimy this deal and have first rights.Alot of heavy ramping by one transparent dominating poster on REY on another forum
My opinion is that REY won't have any choice as far as Buru getting the 90%. The reason is that Buru has taken over the company not just the 90% of the acreage. Therefore the ownership of the 90% hasn't changed as it is still owned by Gujarat NRE. It is just that Buru now owns Gujarat NRE. As far as Mitsubishi getting half I am not sure but I guess Buru wouldn't have offered it if there was an issue.
I am pretty sure they have lawyers working in the company so they should have all of this covered.
Time will tell but it in my opinion it seems as though it is a non issue.
I thought I better add that i have no idea about the laws in the oil business so these are only just my thoughts.
Last edited by hal; 29-09-2012 at 07:37 PM.
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I thought about REY. But you can't go past BRU.
10% of two permits is nothing and the management team seems pretty average to me!
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I agree Corporate, but the value proposition is getting awfully tempting.
It has touched 6.2 cents a couple of times now. Still to go lower IMO.
I regret not investing in BRU in January. Hopefullly NSE will erase those thoughts soon.
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Member
Originally Posted by The Big Ease
I agree Corporate, but the value proposition is getting awfully tempting.
It has touched 6.2 cents a couple of times now. Still to go lower IMO.
I regret not investing in BRU in January. Hopefullly NSE will erase those thoughts soon.
Buru certainly seems to be positioning itself for excellent growth over the next few years.
They have so many options and seem to be very systematic about opening up the different resources they have in the Canning.
The latest presentation says a lot in my opinion.
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Member
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