Past year: ▼ 28%(1.20c – 2.40c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
10 Sept 2015investor presentation▲ Good
Buru's investor update (market cap then about $130 million, with over $40 million cash on hand) pitched its whole-of-basin Canning Superbasin strategy: roughly 45,000 square kilometres of acreage, about 50% equity in its core permits, Mitsubishi Corporation as its major partner, and the Ungani oil discovery with a promising first follow-up exploration well.
9 Sept 2015drilling spud▲ GoodMajor
Victory 1 spudded on the Ungani Trend in EP 457 (Buru operator, Rey Resources holding 25% equity/16.7% cost), targeting a considerably larger structure than Ungani itself - Buru's own pre-drill estimate put the prospect at a best case of 40 million barrels of recoverable oil (range 7-98 million).
9 Sept 2015drilling progress report▲ GoodMajor
Praslin 1's flow test was imminent as Victory 1 spudded, Senagi 1 site works began, Ophir 1 planning progressed, TGS stimulation finished at Asgard/Valhalla North, and a second Ungani oil cargo sale was agreed.
9 Sept 2015drilling spud● Neutral
Victory 1 spudded in EP457 (Buru 37.5%/41.67% cost, Mitsubishi 37.5%, Rey 25%/16.7% cost), a potentially larger Ungani-style structure on the eastern trend.
8 Sept 2015investor presentation● Neutral
Executive Chairman Eric Streitberg presented Buru's corporate story at the Oil Capital Conference, with the company's market capitalisation around $115 million at the time.
4 Sept 2015other● Neutral
S&P Dow Jones' September 2015 quarterly index rebalance made several S&P/ASX index changes across the resources sector.
3 Sept 2015drilling progress report▲ Good
Praslin 1 was plugged back to 2,145m with a completion string run to 2,120m for a separate testing crew to flow-test later; the rig was released to Victory 1 - the last weekly report for Praslin 1.
28 Aug 2015drilling progress report▲ Good
Praslin 1's wireline logs showed a 23m oil-bearing interval resembling Ungani's productive zone; the well was plugged back and completed for a dedicated flow-testing crew, while the rig moved on to Victory 1.
27 Aug 2015drilling progress report▲ GoodMajor
Praslin 1 reached its 2,512m total depth with further hydrocarbon indications below the interpreted Ungani Dolomite, ahead of wireline logging to decide on production casing and testing.
24 Aug 2015drilling progress report▲ Good
Praslin 1 drilled into ~50m of dolomites/limestones with mud losses and hydrocarbon indications, with wireline logs and testing to follow once total depth was reached.
20 Aug 2015drilling progress report▲ GoodMajor
Praslin 1 reached 2,125m with casing cemented at 2,122m after hitting a dolomitic section with drilling breaks and hydrocarbon indications; drilling continued with managed pressure techniques.
13 Aug 2015drilling progress report● Neutral
Praslin 1 reached 1,986m (slowed by minor rig issues), approaching the casing point ahead of the Ungani Dolomite primary objective.
6 Aug 2015drilling progress report● Neutral
Praslin 1 reached 1,828m, still heading toward its ~2,050m sectional total depth.
30 July 2015drilling progress report● Neutral
Praslin 1's casing was cemented to 964m and the well reached 1,297m, heading toward a ~2,050m sectional total depth.
30 July 2015production update▲ Good
WA's Minister for Mines and Petroleum officially opened the Ungani oil production facility - the Canning Basin's first oil development in over 30 years - alongside JV partners and Traditional Owners.
23 July 2015drilling progress report● Neutral
Praslin 1 reached 964m, heading toward its first casing point.
17 July 2015investor presentation▲ Good
A standard corporate presentation recapped Buru's Canning Basin position and flagship Ungani Oilfield for investors.
17 July 2015production update▲ GoodMajor
Commercial oil production began at Ungani (1,250 bopd initial, targeting 3,000 bopd, Buru 50%) - the Canning Basin's first commercial oil since the 1981 Blina discovery - with facility upgrades completed on time and incident-free.
17 July 2015drilling spud● Neutral
Praslin 1 spudded, the first of at least four 2015 Ungani-trend exploration wells (Buru/Mitsubishi 50/50), targeting an Ungani-style conventional oil structure 15km from the Ungani Oilfield.
5 July 2015regulatory community update▲ GoodMajor
The Buru/Mitsubishi joint venture was granted Production Licences for the Ungani oil field, the final approval step after executing Native Title Agreements with all three Traditional Owner groups - clearing the way for commercial production to start around mid-July.
30 June 2015quarterly cashflow report● Neutral
Buru Energy reported $41.9M cash on hand at the end of the quarter ended 2015-06-30, having used $1.7M in operating cash flow that quarter. Against its own $7.5M forecast for next-quarter outflows, that implied roughly 5.6 quarters of funding on hand.
30 June 2015other● Neutral
Buru's H1 2015 interim report showed cash down to $41.9M (from $59.9M) and a half-year loss widening slightly to $11.9M from $10.2M.
25 June 2015quarterly activities report▲ GoodMajor
Ungani's production licence offers arrived with the facility upgrade on track for mid-July output start and a new, improved oil-trucking contract signed; site works began for the Praslin-1 exploration well and a coastal-permit farm-in restructure brought in a significant cash injection.
25 June 2015drilling progress report▼ BadMajor
Olympic 1 was cored to its 1,447m total depth in the Nambeet Formation with no significant hydrocarbons found; the well was plugged and abandoned and the rig released - the last report for Olympic 1.
18 June 2015drilling progress report▼ Bad
Olympic 1 was cored to 1,376.5m with excellent recovery; the upper Nambeet Formation showed no significant hydrocarbon shows so far.
11 June 2015drilling progress report▼ Bad
Olympic 1 reached 1,125m; wireline logs confirmed no significant hydrocarbons in the Willara Formation objectives, with coring now planned through the secondary Nambeet Formation objective.
4 June 2015drilling progress report▲ Good
Olympic 1's casing was cemented to 695m and the well reached 933m with a minor oil show in the upper Willara Formation, heading toward a ~1,125m sectional total depth then coring to 1,450m.
28 May 2015drilling progress report● Neutral
Olympic 1 (the second Apache-funded farm-out well) reached its 698m first casing point.
22 May 2015drilling spud● Neutral
Olympic 1 spudded 22 May 2015, the second well under the same Apache farm-out (EP 473), continuing the $25M Apache-funded exploration program.
29 Apr 2015drilling scheduled▲ Good
Buru's drilling contractor, Titan Energy Services (via its Atlas Drilling subsidiary), secured a rig contract for an initial three-well Canning Basin program with Buru, with drilling due to start around June 2015 - the mobilisation behind what became the Praslin-1 oil discovery two months later.
