Past year: ▼ 28%(1.20c – 2.40c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
31 Mar 2023quarterly cashflow report● Neutral
Buru Energy reported $13.9M cash on hand at the end of the quarter ended 2023-03-31, having used $4.0M in operating cash flow that quarter. Against $4.1M in quarterly cash outgoings (operating costs plus exploration spend), that implied roughly 3.4 quarters of funding on hand.
24 Mar 2023agm notice● Neutral
Buru Energy set its 2023 Annual General Meeting date (25 May 2023) and director-nomination closing date under its standard listing-rule disclosure.
14 Mar 2023production update▼ BadMajor
The Great Northern Highway floodplain section reopened via a temporary gravel road on 24 February, but the Fitzroy Crossing river crossing itself remains closed to heavy vehicles; WA is planning a temporary low-level crossing (targeting May 2023) and a permanent replacement bridge by end of 2024.
14 Feb 2023investor presentation● Neutral
Buru issued an investor corporate update titled 'Focused on Growth', released under new Non-Executive Chairman Eric Streitberg's authorisation shortly after his transition from Executive Chair.
13 Feb 2023farm in farm out completion▲ GoodMajor
Buru bought back Origin Energy's entire Canning Basin joint-venture stake (including Rafael) via a wholly-owned subsidiary, paying only a capped future reimbursement tied to gas-production success while Origin still funds up to $4M of the 2023 Rafael 3D seismic - Buru returns to 100% operator across ~22,500 km2 net (100% of EP129/391/428/431/436, 60% of EP457/458 with Rey).
23 Jan 2023resource reserve update▲ GoodMajor
Buru's wholly-owned hydrogen/helium subsidiary 2H Resources was confirmed preferred applicant for six South Australian hydrogen exploration licences (~30,000 sq km) plus two gas-storage licences; RISC assessed prospective hydrogen resources of 49M-1.3B kg (best estimate 343M kg) across the areas.
18 Jan 2023joint venture update▼ BadMajor
Lab assays disappointed relative to the earlier field readings: Barbwire Terrace's best zinc intersection was just 0.3% Zn over 5m (versus pXRF spot readings that had suggested up to 23.9% combined Zn+Pb) - the mineralisation runs along fracture/vein surfaces rather than through the rock mass, a real check on the project's economics.
16 Jan 2023joint venture update▲ GoodMajor
Buru and EnRes won two more Northern Carnarvon Basin/Merlinleigh Sub-basin exploration areas (EnRes 75%/Buru 25%), making the JV the largest acreage holder in the region as it planned two EP510 exploration wells for 2024.
10 Jan 2023production update▼ BadMajor
The Ungani facility and access road only sustained minor flood damage, but ex-Cyclone Ellie structurally damaged the Fitzroy Crossing bridge, severing the export route to Wyndham Port; CEO Thomas Nador says full restoration will likely take months.
5 Jan 2023production update▼ BadMajor
Ex-Tropical Cyclone Ellie flooding forced Buru to suspend Ungani Production Facility operations and evacuate field personnel, cutting off oil transport - the start of what would become a prolonged, field-ending disruption.
3 Jan 2023director officer appointment▲ GoodMajor
Eric Streitberg - Buru's Executive Director since its 2008 split from ARC Energy and Executive Chair since 2014, credited with the original Ungani oil discovery and the newer Rafael gas discovery - stepped back from day-to-day executive duties to become Non-Executive Chair, formally handing operational leadership to recently-appointed CEO Thomas Nador. This ends founder-led executive management at Buru, a planned, orderly succession rather than a sign of trouble.
31 Dec 2022remuneration report● Neutral
Buru Energy's FY2022 remuneration report covered the CEO transition year: outgoing Executive Chairman Eric Streitberg, whose contract ended 31 December 2022, was still the year's top earner at $843,798 (including termination-related payments), ahead of incoming Chief Executive Officer Thomas Nador, who joined in September 2022 on a part-year $200,693. Non-executive directors Robert Willes, Joanne Kendrick and Malcolm King continued throughout.
31 Dec 2022other● Neutral
Buru published its 2022 Sustainability Report.
31 Dec 2022quarterly cashflow report● Neutral
Buru Energy reported $17.9M cash on hand at the end of the quarter ended 2022-12-31, having used $759K in operating cash flow that quarter. Against $759K in quarterly cash outgoings (operating costs plus exploration spend), that implied roughly 23.6 quarters of funding on hand.
31 Dec 2022other● Neutral
Buru Energy published its Corporate Governance Statement for the year ended 31 December 2022.
21 Nov 2022production update● NeutralMajor
Ungani's third and final CY2022 lifting (~73,000 bbls, ~A$3.8M) brought the year's total to ~220,000 bbls exported; Buru also flagged Origin Energy's move to exit its Canning Basin interests, progress on the Geovault carbon-capture JV with EnRes, imminent Battmin zinc-lead assay results, and hydrogen business 2H Resources.
16 Nov 2022material agreement▲ GoodMajor
Buru signed an agreement with Transborders Energy to study a compact, marinised LNG plant as a faster, cheaper alternative pathway to commercialise Rafael gas than exporting via the North West Shelf.
11 Nov 2022joint venture update● NeutralMajor
Buru noted a Brookfield/MidOcean Energy consortium's non-binding offer to acquire Origin Energy would transfer Origin's Canning Basin JV interest to MidOcean (backed by EIG, a $40bn+ energy investor) - relevant given Origin had already flagged its intent to exit its Canning Basin position.
27 Oct 2022regulatory community update▼ BadMajor
The Commonwealth's $7M CCS grant to Geovault (offered April 2022) was cancelled after the October 2022 Federal Budget cut CCS funding; Buru said Geovault would pursue an expected 2023 replacement grant round while continuing its EnRes CCS joint venture regardless.
17 Oct 2022investor presentation● Neutral
New CEO Thomas Nador presented Buru's latest corporate presentation at the SPE Asia Pacific Oil and Gas Conference in Adelaide.
10 Oct 2022director officer appointment● Neutral
New CFO Paul Bird also took over as Company Secretary, and interim Company Secretary Alex Forcke stepped back to his regular commercial role - completing the leadership handover that began with Shane McDermott's departure three months earlier.
30 Sept 2022quarterly cashflow report● Neutral
Buru Energy reported $18.7M cash on hand at the end of the quarter ended 2022-09-30, having used $285K in operating cash flow that quarter. Against $308K in quarterly cash outgoings (operating costs plus exploration spend), that implied roughly 60.6 quarters of funding on hand.
28 Sept 2022joint venture update▲ GoodMajor
All three planned Barbwire Terrace holes were completed with base-metal sulphides in each (handheld XRF spot readings up to 23.9% Zn+Pb), though these preliminary field readings still needed lab assay confirmation before being relied on.
21 Sept 2022director officer appointment▲ GoodMajor
Buru appointed Paul Bird - previously CFO of fellow ASX-listed gas producer Metgasco - as its new Chief Financial Officer, filling the gap left by Shane McDermott's departure two months earlier after a formal executive search.
19 Sept 2022joint venture update▼ BadMajor
Origin Energy told Buru it intended to divest its 50% joint-venture stake in the Canning Basin (acquired via its 2020 farm-in), after the two companies failed to agree on a forward program - including Buru's proposal to test and run 3D seismic over the Rafael discovery alone - stalling out. Buru said Origin's exit reflected Origin's own funding priorities, not any problem with the Canning Basin assets, but a major joint-venture partner heading for the door over an unresolved operational disagreement is a real setback, not routine news.
7 Sept 2022investor presentation● Neutral
Executive Chairman Eric Streitberg presented Buru's latest corporate presentation (abridged version) at the Good Oil Conference in Perth.
5 Sept 2022joint venture update▲ GoodMajor
Barbwire Terrace's second hole found visible galena over a 38m interval with handheld-XRF readings up to 19.8% combined lead+zinc - an encouraging early indicator, pending lab assay confirmation.
31 Aug 2022joint venture update▲ GoodMajor
Barbwire Terrace's first diamond hole (410m) hit dolomitised Pillara Limestone shallower than expected, with vuggy, veined, sulphide-bearing rock - a real technical proof-of-concept for the target mineral system.
2 Aug 2022joint venture update▲ GoodMajor
Sipa Resources began diamond drilling up to four holes at Barbwire Terrace (50/50 JV with Buru, Sipa operator, co-funded by a WA Government EIS grant), testing base-metal targets analogous to the Lennard Shelf lead-zinc deposits.
2 Aug 2022joint venture update▲ Good
Buru's own announcement confirmed its wholly-owned Battmin subsidiary's first-ever mineral exploration drilling campaign had begun at Barbwire Terrace, the practical payoff of applying Buru's petroleum-derived geological knowledge to mineral targets.
