23 Jan 2025appendix 3g unquoted issue● Neutral
Buru Energy granted 3,870,000 performance rights under its Employee Incentive Performance Rights Plan.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
29 Nov 2024appendix 2a quotation● Neutral
Buru Energy listed for quotation 5,080,645 new ordinary shares, taking total shares on issue from 774,328,962 to 779,409,607.
4 Oct 2024appendix 2a quotation● Neutral
Buru Energy listed for quotation 102,983,880 new ordinary shares, taking total shares on issue from 671,345,082 to 774,328,962.
30 Sept 2024appendix 3b new issue● Neutral
Buru Energy issued 50,000 new ordinary shares (a minor, option-exercise-scale issue).
30 Sept 2024capital raising announcement▼ BadMajor
Buru terminated its farm-in agreements with Sabre Energy after Sabre failed to meet its funding obligations for the Rafael Shallow well and the Ungani oilfield, and quickly lined up replacement funding - two entities linked to existing long-term Buru shareholders committed $3 million to earn a combined 25% interest in Rafael Shallow instead. Alongside this, Buru completed an oversubscribed but scaled-back $6.7 million share placement at 6.2 cents a share (down sharply from 16 cents in 2022 and 11.5 cents the year before) to fund the Rafael Gas Project, the Rafael Shallow well, and restarting Ungani. A funding partner defaulting and each successive raise pricing lower than the last both point to real, tightening financial pressure, even though Buru quickly replaced the lost funding and the placement itself was oversubscribed.
13 Dec 2023appendix 2a quotation● Neutral
Buru Energy listed for quotation 31,993,297 new ordinary shares, taking total shares on issue from 639,351,785 to 671,345,082.
12 Dec 2023capital raising announcement▲ GoodMajor
Buru's Share Purchase Plan closed significantly oversubscribed, raising $3.7 million (well above its $2 million target) which the board chose to accept in full - taking the combined placement-plus-SPP raise to about $8.7 million to fund the 2024 Rafael appraisal drilling program and commercialisation work.
4 Dec 2023capital raising announcement● Neutral
Buru reminded eligible shareholders of the closing date for its Share Purchase Plan, a routine administrative notice.
20 Nov 2023capital raising announcement● Neutral
Buru opened its Share Purchase Plan, letting eligible shareholders buy up to $30,000 of new shares each at 11.5 cents - the same price as the recent institutional placement - targeting a further $2 million.
14 Nov 2023appendix 3b new issue● Neutral
Buru lodged a combined issue notice for its November 2023 Share Purchase Plan (up to 17,391,304 shares) and placement (43,308,700 shares).
14 Nov 2023appendix 2a quotation● Neutral
Buru Energy listed for quotation 43,308,700 new ordinary shares, taking total shares on issue from 596,043,085 to 639,351,785.
14 Nov 2023capital raising announcement● NeutralMajor
Buru raised $5 million through a share placement at 11.5 cents a share and launched a follow-on Share Purchase Plan for existing shareholders at the same price, earmarked for long-lead items in the planned 2024 Rafael gas appraisal drilling program - a notably smaller raise than Buru's 2021-2022 rounds, reflecting a more incremental, cash-conscious funding approach as Rafael appraisal work continued.
21 Apr 2023appendix 3g unquoted issue● Neutral
Buru issued 1,000,000 unlisted options under its Employee Share Option Plan.
7 June 2022appendix 2a quotation● Neutral
Buru Energy listed for quotation 55,350,094 ordinary shares from a previously-announced capital raise.
7 June 2022appendix 2a quotation● Neutral
Buru Energy listed for quotation 57,600,094 new ordinary shares, taking total shares on issue from 538,442,991 to 596,043,085.
7 June 2022capital raising announcement▲ GoodMajor
Buru's rights issue raised about $9.2 million (entitlements, shortfall applications, and a placement to new investors combined) despite what Executive Chairman Eric Streitberg called challenging market conditions - fully funding the next phase of appraisal work, including flow testing and 3D seismic, at its Rafael gas and condensate discovery.
3 June 2022capital raising announcement● Neutral
Buru pushed back the announcement of its rights issue results by a few days due to postal delays in processing applications - a minor administrative delay, not a sign of any problem with the raise.
12 May 2022capital raising announcement● NeutralMajor
Buru mailed the prospectus for a 1-for-6 rights issue to raise up to $14.4 million at $0.16 a share, earmarked to fund a multi-phase appraisal program and commercial feasibility studies for its Rafael gas and condensate discovery.
3 May 2022appendix 3b new issue● Neutral
Buru lodged a standard pro-rata issue notice for up to 89,740,499 new ordinary shares, issue date 7 June 2022.
3 May 2022capital raising announcement● NeutralMajor
Buru Energy launched a 1-for-6 non-renounceable rights issue to raise ~$14.4 million at $0.16/share (a ~24% discount), funding an appraisal program for the Rafael gas condensate discovery.
26 Apr 2022capital raising announcement▲ GoodMajor
Buru launched a 1-for-6 renounceable Rights Issue at 16 cents a share (a 24% discount) to fund appraisal of its newly confirmed, independently-assessed 1+ TCF Rafael gas/condensate discovery, including 2022 well testing and seismic work and a further drilling program planned for the following year.
23 Sept 2021capital raising announcement● Neutral
Buru called a shareholder meeting to formally ratify the shares it had already issued under its April 2021 placement - a routine governance step required under ASX rules that cap how many shares a company can issue without shareholder approval, not a sign of any problem with the earlier raise.
10 June 2021appendix 2a quotation● Neutral
Buru Energy listed for quotation 6,368,750 new ordinary shares, taking total shares on issue from 532,074,241 to 538,442,991.
9 June 2021capital raising announcement▲ GoodMajor
Buru's Share Purchase Plan closed, raising a further $1.02 million from 133 shareholders at $0.16 a share - completing, together with the earlier $15 million institutional placement, a combined roughly $16 million raise. Executive Chairman Eric Streitberg said Buru was now fully funded for its 2021 Canning Basin program, with the first new exploration well (Currajong) about to spud.
2 June 2021capital raising announcement● Neutral
Buru reminded eligible shareholders of the closing date for its Share Purchase Plan, a routine administrative notice.
20 May 2021capital raising announcement● Neutral
Buru extended its Share Purchase Plan's closing date by about two weeks (to 4 June 2021) to give eligible shareholders more time to weigh a same-day drilling-program update before deciding whether to apply for up to $30,000 of shares at 16 cents each.
6 May 2021appendix 2a quotation● Neutral
Buru Energy listed for quotation 100,000,000 new ordinary shares, taking total shares on issue from 432,074,241 to 532,074,241.
6 May 2021capital raising announcement● Neutral
Buru opened its Share Purchase Plan, letting eligible shareholders buy up to $30,000 of new shares each at $0.16 - the same price as the $15 million institutional placement completed a week earlier - without paying any brokerage.
30 Apr 2021capital raising announcement● Neutral
The formal ASX lodgement form for Buru's April 2021 capital raise: an offer of up to 31,250,000 new shares combining an institutional placement with a follow-on Share Purchase Plan for existing shareholders - the structured cover sheet for the raise announced the same day (see companion announcement), not a separate event.
30 Apr 2021capital raising announcement▲ GoodMajor
Buru completed a $15 million share placement to institutional, professional, and sophisticated investors, and launched a follow-on Share Purchase Plan targeting a further $5 million from existing shareholders - together up to $20 million to strengthen its balance sheet for a 2021 Canning Basin exploration and development program. Executive Chairman Eric Streitberg noted this was Buru's first capital raise bringing in shareholders from outside its existing base since 2014, a sign of renewed investor interest in the company's exploration story.