Past year: ▼ 28%(1.20c – 2.40c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
9 Dec 2016drilling progress report▲ GoodMajor
Further Asgard 1 gas testing added confidence in the Laurel tight-gas accumulation as DMP accepted both the Asgard/Valhalla Discovery Assessment Report and a new Special Prospecting Authority application, while Ungani restart engineering and oil-drilling heritage clearances progressed.
26 Oct 2016regulatory community update▲ Good
Buru executed a further Land Access and Use Agreement over EP371 with the Warlangurru People, continuing the native-title approvals needed for Laurel gas development.
30 Sept 2016quarterly cashflow report● Neutral
Buru Energy reported $35.8M cash on hand at the end of the quarter ended 2016-09-30. Against its own $15.6M forecast for next-quarter outflows, that implied roughly 2.3 quarters of funding on hand.
14 Sept 2016investor presentation● Neutral
A corporate update described the flagship Ungani Oilfield as a 50/50 joint venture with Diamond Resources (Fitzroy) Pty Ltd - the same 50/50 Ungani production-licence structure later attributed to Roc Oil (Canning) Pty Ltd from 2018, suggesting a name change/corporate restructure of the same JV partner rather than a distinct prior partner (not confirmed in this corpus).
14 Sept 2016investor presentation● Neutral
Executive Chairman Eric Streitberg presented Buru's corporate story at the Good Oil conference in Perth.
6 Sept 2016regulatory community update▲ GoodMajor
The Yungngora Aboriginal Corporation agreed an Indigenous Land Use Agreement over EP371 (Noonkanbah Station), supporting future tenure grants for Buru's Laurel tight-gas development.
1 Aug 2016asset acquisition disposition▲ GoodMajor
Buru completed the Yakka Munga Pastoral Lease sale for $9.878M (over $1M above the original contract price, for extra cattle) and restructured its Alcoa debt repayment terms, leaving cash at ~$38.1M.
30 June 2016quarterly cashflow report▼ Bad
Buru Energy reported $23.9M cash on hand at the end of the quarter ended 2016-06-30, having used $6.9M in operating cash flow that quarter. It forecast a net cash INFLOW of $12.5M for the next quarter (a $9.5M Yakka Munga pastoral-lease sale settlement and a $5.8M R&D tax rebate outweighing routine exploration, development, production and admin costs), rather than a funding drawdown.
30 June 2016other● Neutral
Buru's H1 2016 interim report showed cash down to $23.9M (from $33.9M) and a half-year loss narrowed to $6.1M from $11.9M.
30 June 2016remuneration report● Neutral
This filing duplicates Buru Energy's Annual Report for the year ended 30 June 2013 (its remuneration report covered a 5-director board and totalled $1.7M, led by Executive Director Eric Streitberg at $950,514) - not a distinct FY2016 disclosure despite how this event is dated.
16 May 2016flow test result▲ GoodMajor
The Laurel tight-gas wells posted peak blowdown rates up to 44 mmcfgpd (average up to 13.5 mmcfgpd) with high liquids content (25-38 bbl/mmcf) and low CO2, confirming commercial potential, alongside a substantial independent upgrade to Ungani's own resources.
28 Apr 2016investor presentation● Neutral
A 2016 AGM investor deck recapped 2015's drilling-cost cuts (over 50%, six wells drilled) against a 2016 contractor shakeout (Atlas Rig 2 in liquidation, DDH1 exiting oil), summarizing 2015 well results: Sunbeam 1 and Olympic 1 dry, Ungani Far West 1 an oil discovery, Ungani North 1 recovering oil on test, Praslin 1/Victory 1/Senagi 1 with shows.
18 Apr 2016resource reserve update▲ GoodMajor
DeGolyer and MacNaughton's independent review confirmed the Valhalla area holds a nationally significant multi-TCF wet gas accumulation, defining initial Contingent Resources around the two stimulated TGS wells - a key step toward commercialising the Laurel tight gas play.
31 Mar 2016form 604 change substantial holder● Neutral
A (OCR-garbled) fax cover sheet from Coogee Chemicals forwarded a Notice of Change of Interest of Substantial Holder on behalf of Chemco Pty Ltd, Buru's existing cornerstone shareholder.
31 Mar 2016quarterly cashflow report● Neutral
Buru Energy reported $30.8M cash on hand at the end of the quarter ended 2016-03-31, having used $3.0M in operating cash flow that quarter. Against its own $1.6M forecast for next-quarter outflows, that implied roughly 19.9 quarters of funding on hand.
14 Mar 2016well test result▲ GoodMajor
Ungani Far West 1's middle zone tested water-bearing with no oil influx; after further pressure surveys the well would be suspended, having confirmed the Ungani Dolomite's reservoir quality is better than logs alone had suggested.
11 Mar 2016other● Neutral
S&P Dow Jones' March 2016 quarterly index rebalance made several S&P/ASX index changes across the resources sector.
10 Mar 2016well test result▲ GoodMajor
Ungani Far West 1's upper zone tested a minimum 15m oil column with productivity estimated at over twice the existing Ungani wells - a very encouraging result for the wider Ungani area - while the lower zone tested water-bearing with extremely high permeability.
4 Mar 2016well test result▲ GoodMajor
Ungani Far West 1's upper zone flowed strongly at up to 1,680 barrels of fluid per day, 50-70% of it high-quality 41.6-degree API oil, before being shut in for a pressure buildup survey.
2 Mar 2016well test result▲ Good
Ungani Far West 1's upper zone test began flowing back 40-50% oil with good permeability, typical of vugular-porosity reservoirs with prior fluid losses.
11 Feb 2016drilling progress report● Neutral
Ungani Far West 1's production tubing was cemented to 2,400m and the drilling rig released; a flow test to confirm oil column height and productivity follows - the last weekly drilling report for this well.
8 Feb 2016drilling progress report▲ Good
Ungani Far West 1's logs found up to a 41m potential oil column with vugular porosity and oil bleeding from cores (4 barrels of 41-degree API oil recovered at surface); a completion string was being run to determine the column's true height and productivity.
4 Feb 2016drilling progress report▲ Good
Ungani Far West 1 cored to 2,405m with excellent recovery and continued oil shows; 41-degree API light oil was recovered from the wellbore during logging.
28 Jan 2016drilling progress report▲ Good
Ungani Far West 1 cored to 2,365m; the Ungani Dolomite top (2,341.4m) showed well-developed vugular porosity, strong mud gas shows, and oil bleeding from cores.
21 Jan 2016asset acquisition disposition▲ GoodMajor
Buru agreed to sell the Yakka Munga Pastoral Lease (bought for $7M in Jan 2015) to Shanghai Zenith for A$8.75M, subject to government approvals and an ongoing petroleum-access agreement, expected to complete in H1 2016.
21 Jan 2016drilling progress report● Neutral
Ungani Far West 1 coring operations commenced through the Ungani Dolomite objective.
20 Jan 2016drilling progress report▲ Good
Ungani Far West 1 began coring toward the Ungani Dolomite target as the TGS wells kept unloading stimulation fluid with rising wellhead pressure, flaring gas at unstabilised rates of 0.5-2.0 mmcfd.
14 Jan 2016drilling progress report▲ Good
Ungani Far West 1's logging/sampling confirmed the ~14m Anderson Formation oil column (30.5 deg API oil); 5-inch casing was run to 2,327m and the coring rig is mobilizing to core the Ungani Dolomite section.
7 Jan 2016drilling progress report▲ GoodMajor
Ungani Far West 1 wireline/pressure testing identified a 5m high-permeability (~450md) oil-bearing sandstone in the Anderson Formation at 1,560m with a potential 14m oil column; an oil sample was recovered and oil reached surface.
31 Dec 2015remuneration report● Neutral
Buru Energy's FY2015 remuneration report disclosed pay for its 3-director board - Executive Chairman Eric Streitberg, and non-executive directors Eve Howell and Robert Willes - led by Streitberg at $694,540. Former Managing Director Kieran Wulff, who left in July 2014, received no remuneration this year.
