Past year: ▼ 28%(1.20c – 2.40c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
10 May 2010drilling scheduled▲ GoodMajor
Buru kicked off its six-well 2010 Canning Basin drilling campaign, mobilising the refurbished Fairway Rig to spud the shallow Fairwell-1 well - targeting a combined P50 4.8 million barrels of oil across two horizons - as the campaign's first well.
6 May 2010drilling progress report● Neutral
Buru Energy reported the Fairway Rig had completed refurbishment and safety inspection ahead of mobilising to the Canning Basin, with all Traditional Owner and government approvals in place to begin its 2010 drilling season at the Fairwell-1 well.
6 May 2010admin correction● Neutral
Buru Energy corrected an earlier release that had mistakenly attached an outdated (20 April 2010) operations update instead of its intended 6 May 2010 corporate and operations update.
29 Apr 2010quarterly cashflow report● Neutral
Buru Energy reported $43.9M cash on hand at the end of the quarter ended 2010-04-29, having used $1.2M in operating cash flow that quarter. Against its own $5.8M forecast for next-quarter outflows, that implied roughly 7.6 quarters of funding on hand.
22 Apr 2010joint venture update▲ Good
Pancontinental Oil & Gas (a Buru JV co-venturer) reported the grant of Production Licence L15 over the West Kora-1 oil discovery, shared Empire Oil & Gas 49%/Buru 17%/Pancontinental 12%/First Australian 12%/Indigo Oil 8%, aiming to restore West Kora-1 production.
22 Apr 2010regulatory community update▲ Good
The WA government granted Petroleum Production Licence L15 over the West Kora-1 oil discovery in the Canning Basin, confirming the joint-venture split there: Empire Oil & Gas (via Gulliver Productions) 49%, Buru 17%, Pancontinental Oil & Gas 12%, First Australian Resources 12%, and Indigo Oil 8%.
20 Apr 2010investor presentation● Neutral
Buru published a presentation marking the start of its 2010 exploration program, routine investor material.
13 Apr 2010drilling scheduled▲ GoodMajor
Buru confirmed the first three wells of its six-well 2010 Canning Basin campaign - Leander-1 and Fairwell-1 (near the producing Sundown/Blina fields) and Paradise-1 (a larger oil/gas/condensate structure) - and engaged Terrex Seismic for 2D surveys later that year to firm up further targets.
3 Mar 2010joint venture update● Neutral
Empire Oil & Gas (operating via Gulliver Productions, Buru's R1 JV partner) reported progress testing Gingin West-1 and preparing an engineering study to test Stokes Bay-1.
29 Jan 2010appendix 3b new issue● Neutral
Buru Energy issued 2,650,000 new ordinary shares, taking total shares on issue from 180,119,813 to 182,769,813.
27 Jan 2010quarterly cashflow report● Neutral
Buru Energy reported $45.8M cash on hand for the quarter ended 31 December 2009 (lodged 27 January 2010), having used $1.4M in operating cash flow that quarter. Against its own $800K forecast for next-quarter outflows, that implied roughly 57.2 quarters of funding on hand.
27 Jan 2010investor presentation● Neutral
Buru published an update on progress with its 2010 Canning Basin exploration program, routine investor material.
25 Jan 2010appendix 3b new issue● Neutral
Buru Energy issued 85 new ordinary shares, taking total shares on issue from 180,119,728 to 180,119,813.
15 Jan 2010farm in farm out completion● Neutral
Empire Oil & Gas confirmed that it (via subsidiary Gulliver Productions) and Indigo Oil signed a Farmin Agreement with Buru on 12 January 2010 for permit EP438 (Broome Arch, Canning Basin): Buru will spend a further $3 million on exploration there - including drilling one well - to earn a 75% interest, with Empire retaining 20% and Indigo 5%, both carried through that spend.
15 Jan 2010farm in farm out completion● Neutral
Buru restructured a multi-party Canning Basin permit position with Empire Oil & Gas (via subsidiary Gulliver Productions), Indigo Oil, and United Orogen: Buru gave up its 5% stake (and the associated $3 million farm-in funding commitment) in permit EP448, in exchange for the right to earn a further 70% interest in the neighbouring EP438 permit - taking its total stake there to 75% - by spending $3 million on further exploration, including a planned well.
15 Jan 2010farm in farm out completion● Neutral
Empire Oil & Gas confirmed Buru has formally relinquished its 5% interest (and the associated $3 million farm-in funding commitment) in permit EP448 - the other half of the EP438/EP448 restructuring - with Empire, Indigo Oil and United Orogen now seeking a new farm-in partner to drill there.
21 Dec 2009director officer appointment● Neutral
Company Secretary Adrian Di Carlo, who had held the role since Buru's 2009 split from ARC Energy, resigned, with Chief Commercial and Financial Officer Tom Streitberg taking over as Company Secretary - a routine administrative handover in a still-young, recently-independent company.
9 Dec 2009investor presentation▲ Good
In a shareholder letter, Executive Director Eric Streitberg said Buru had emerged from the GFC ready to pursue an aggressive 2010 exploration program across its Canning Basin acreage.
2 Dec 2009investor presentation● Neutral
A general company-overview investor presentation on Buru's single-asset Canning Basin focus, listing the untested reservoir at the existing Stokes Bay-1 well among its prospect inventory ahead of the 2010 drilling season, with no specific well-scheduling content.
19 Oct 2009director officer appointment● NeutralMajor
Buru's founding Managing Director Adrian Cook formally left the board (having already announced his departure as MD two weeks earlier), while Peter Jones joined as a new non-executive director - the formal board-level completion of a planned executive handover, not a boardroom dispute.
1 Oct 2009director officer appointment● Neutral
Founding Managing Director Adrian Cook announced his resignation to take a senior role at an ASX 200 oil and gas company; Executive Director Eric Streitberg stepped into an expanded executive role covering exploration and corporate affairs, and mining/energy veteran Peter Jones AM joined the board as a non-executive director.
30 Sept 2009quarterly cashflow report● Neutral
Buru Energy reported $47.5M cash on hand at the end of the quarter ended 2009-09-30, having used $10.1M in operating cash flow that quarter. Against its own $1.5M forecast for next-quarter outflows, that implied roughly 31.7 quarters of funding on hand.
29 Sept 2009director officer appointment● Neutral
Eric Streitberg returned from leave and Tom Streitberg's temporary alternate-director role ended as planned, with no lasting change to the board.
25 Sept 2009drilling progress report▲ Good
Terrex Seismic completed the Paradise 2D Seismic Survey (103km across EP371/EP428), building on 2007 ARC Energy data to firm up a drill location for the Paradise prospect.
15 Sept 2009remuneration report● Neutral
Buru Energy's first remuneration report, covering the 16 April 2008 - 30 June 2009 stub period since its demerger from ARC Energy, disclosed pay for its 3-director board (Chairman Graham Riley, Eric Streitberg, and Executive Director Adrian Cook) plus one executive, led by Executive Director Adrian Cook at $378,645.
14 Sept 2009drilling progress report▲ Good
Buru completed the Bunda 3D Seismic Survey (223 sq km over EP129/L8) two weeks ahead of schedule, aimed at sizing additional reserves near the Sundown oil field and picking new drilling targets.
4 Sept 2009farm in farm out completion● Neutral
New Standard Energy confirmed completion of its Acacia Permits sale to Buru, receiving $6.3 million (part cash, part Buru shares at 17c) - New Standard retains a first right of refusal over any future farm-out of the four permits it sold and continues providing technical input on the Acacia Fairway.
4 Sept 2009cleansing notice▲ Good
Buru completed its acquisition of New Standard Energy's Canning Basin interests, issuing 18 million fully paid ordinary shares as consideration and giving the standard s708A(5)(e) cleansing notice for that issue.
4 Sept 2009appendix 3b new issue● NeutralMajor
Buru Energy issued 18,000,000 Fully Paid Ordinary Shares (for acquisition of NSE's interests in Canning Basin exploration permits), taking total ordinary shares on issue to 180,119,728.
4 Sept 2009farm in farm out completion▲ Good
Buru completed its acquisition of New Standard Energy's Acacia Province permit interests (EP442, EP442A, L08-3, application 30/07-8), giving Buru 100% ownership and control of the great majority of the Acacia Fairway play.
