1 Aug 2017capital raising announcement▲ GoodMajor
Buru notified option holders of its 1-for-5 non-renounceable Entitlement Issue at $0.15/share, aiming to raise ~$10.2 million.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 Aug 2017agm notice● Neutral
Buru Energy issued its notice for the 2017 Annual General Meeting, covering the routine agenda (director elections, remuneration report adoption, and other standard resolutions).
1 Aug 2017appendix 3b new issue● NeutralMajor
Buru Energy announced a proposed non-renounceable entitlement offer of up to 67,999,416 new shares to raise further capital.
1 Aug 2017appendix 3b new issue● Neutral
Buru Energy issued 42,000 new ordinary shares (a minor option-exercise-scale issue).
20 July 2017investor presentation▲ Good
A 'Buru Unleashed' conference deck pitched the post-Mitsubishi-asset-transaction Buru - full control of western Canning Basin acreage and a restarting Ungani export route - against the 'old Buru' of unrecognised, non-producing, indebted status.
19 July 2017investor presentation● Neutral
A corporate snapshot presentation showed ~340M shares on issue, a ~$0.17 share price (~$58M market cap), and ~$13.5M cash on hand.
6 July 2017investor presentation▲ Good
An updated corporate presentation reiterated Buru's 100%-held ~22,100 sq km Canning Basin position, Ungani production ramp-up, and defined tight-gas commercialisation pathway.
5 July 2017debt financing▲ GoodMajor
Buru restructured its balance sheet by rescheduling repayment of Alcoa's original $40M gas prepayment, varying terms first agreed in August 2016.
30 June 2017other▲ Good
Buru's H1 2017 interim report showed cash of $19.2M (down from $21.1M) and a half-year loss narrowed to $1.3M from $6.1M a year earlier.
30 June 2017quarterly cashflow report● Neutral
Buru Energy reported $19.2M cash on hand at the end of the quarter ended 2017-06-30. Against its own $9.0M forecast for next-quarter outflows, that implied roughly 2.1 quarters of funding on hand.
26 June 2017production update▲ GoodMajor
Ungani's restart ramped toward its 1,250 bopd initial target with first oil delivered via a new quad road-tanker system, as Buru progressed oil-marketing talks, a Yulleroo resource review, and paperwork for its recently announced Mitsubishi Asset Swap.
16 June 2017production update▲ GoodMajor
Buru restarted Ungani Oilfield production on time and under budget, with reservoir performance testing to follow before routine operations and the first Wyndham truck loading.
31 May 2017agm notice● Neutral
Buru Energy shareholders approved the resolutions put to the vote at the company's 2017 Annual General Meeting.
31 May 2017appendix 3b new issue● Neutral
Buru Energy issued 92,024,255 new ordinary shares, taking total shares on issue from 339,997,078 to 432,021,333.
31 May 2017investor presentation▲ Good
A condensed version of Buru's 'Buru Unleashed' corporate deck was presented at the 2017 AGM, pitching the post-asset-swap company's pivot to oil production with gas upside.
31 May 2017agm notice● Neutral
Buru Energy convened its 2017 Annual General Meeting for 31 May 2017, with shareholders asked to adopt the remuneration report and re-elect director Eve Howell.
26 May 2017joint venture update● Neutral
Fitzroy River Corporation confirmed the Buru/Mitsubishi asset swap wouldn't change its royalty terms, only which entity holds each tenement - Buru moving to 100% of EP391/428/431/436/L20/L21 and Mitsubishi's Diamond Resources subsidiaries taking 100% of EP371.
25 May 2017joint venture update▲ GoodMajor
Buru executed a major asset swap with Mitsubishi's Diamond Resources subsidiaries: Buru gained 100% of the Ungani production licences (L20/L21) and exploration permits EP391/428/431/436, while giving up its 50% of EP371 - letting each party focus on the acreage suited to its own technical/commercial strengths.
21 Apr 2017securities registry admin● Neutral
Buru's share registry (Link Market Services) moved its Perth office address, effective 24 April 2017.
7 Apr 2017production update▲ Good
Ungani's restart stayed on track for mid-2017 (construction, tank, and trucking contracts progressing) as the Yungngora ILUA was formally registered with the National Native Title Tribunal.
31 Mar 2017quarterly cashflow report● Neutral
Buru Energy reported $19.8M cash on hand at the end of the quarter ended 2017-03-31. Against its own $2.6M forecast for next-quarter outflows, that implied roughly 7.6 quarters of funding on hand.
17 Mar 2017investor presentation● Neutral
A routine corporate presentation update for investors, describing Ungani as a 50/50 joint venture with Diamond Resources (Fitzroy) Pty Ltd.
10 Mar 2017production update▲ GoodMajor
Buru finalised its Ungani restart plan around a larger 80,000-barrel Wyndham storage tank (versus the previous 30,000-barrel tank), enabling bigger ships and lower per-barrel costs, targeting a mid-2017 restart at 1,200 bopd with ESPs planned later.
31 Dec 2016other● Neutral
Buru Energy lodged its Appendix 4G Corporate Governance Statement compliance checklist for the year ended 31 December 2016.
31 Dec 2016quarterly cashflow report● Neutral
Buru Energy reported $21.1M cash on hand at the end of the quarter ended 2016-12-31. Against its own $1.9M forecast for next-quarter outflows, that implied roughly 11.1 quarters of funding on hand.
31 Dec 2016remuneration report● Neutral
Buru Energy's FY2016 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 $695,692.
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).