Past year: ▼ 28%(1.20c – 2.40c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
11 Jan 2010securities registry admin● Neutral
Buru Energy cancelled 79,000 unlisted director/executive options following an administrative staff member's resignation, leaving 5,241,000 options on issue.
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.
25 Nov 2009securities registry admin● Neutral
Buru established an Unmarketable Parcel Sale Facility (holdings of 2,564 shares or less) for the roughly 4,600 of its 9,000 shareholders affected, covering ~5.3 million shares, at no cost to participants.
17 Nov 2009securities registry admin● Neutral
Buru Energy cancelled 1,900,000 unlisted director/executive options following Adrian Cook's resignation as Managing Director, leaving 5,320,000 options on issue.
23 Oct 2009agm notice● Neutral
Buru Energy issued its notice for the 2009 Annual General Meeting, covering the routine agenda (director elections, remuneration report adoption, and other standard resolutions).
23 Oct 2009director interest notice● Neutral
Buru Energy director Eric Streitberg was granted 1,080,000 unlisted employee share options.
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.
16 Oct 2009agm notice▲ Good
Buru Energy shareholders approved every resolution at the 2009 AGM (its first as a listed company), with over 90% of votes cast in favour of re-electing the board.
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 2009agm notice● Neutral
Buru Energy issued its 2009 Annual General Meeting notice and proxy form, for a meeting held 16 October 2009.
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.
4 Sept 2009form 603 initial substantial holder● Neutral
NEW STANDARD ENERGY LIMITED disclosed a new substantial Buru Energy shareholding (10.0% of votes, 18,000,000 shares).
31 Aug 2009director interest notice● Neutral
Buru Energy director Eric Streitberg received 2,650,000 new ordinary shares as part of a company share issue.
31 Aug 2009securities registry admin● Neutral
Buru cancelled 21.38 million unlisted director/employee options (exercise price $0.94, expiring Aug 2010), leaving 7.22 million such options on issue.
28 Aug 2009director interest notice● Neutral
Buru Energy director Graham Riley exercised unlisted options for 1,000,000 ordinary shares at $0.30 per share.
27 Aug 2009asset acquisition disposition▲ Good
Trident Energy declined its pre-emptive right over EP442A, clearing the way for Buru's acquisition of the Acacia Permits (EP442/442A and adjacent acreage) from New Standard Energy to proceed unchanged.
27 Aug 2009asset acquisition disposition▲ Good
New Standard Energy's own announcement of the same Trident pre-emptive-rights waiver, confirming Buru's Acacia Permits acquisition would proceed for $3.2M cash plus 18 million Buru shares, settling in early-to-mid September 2009.
26 Aug 2009annual report● Neutral
Buru Energy released its first full-year financial statements as a listed company, covering the period from its April 2008 incorporation through 30 June 2009.
18 Aug 2009drilling scheduled● Neutral
Buru began 3D seismic acquisition (the Bunda Survey) over the Sundown oil field area to pin down well locations for the 2010 Canning Basin drilling season, building on 2008 workovers that had already lifted field production from around 30 to over 200 bopd. The Sundown-1 and Lloyd-1 targets flagged here were never confirmed as drilled in this corpus.
