Past year: ▼ 28%(1.20c – 2.40c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
23 Nov 2021drilling progress report▲ GoodMajor
Wireline logs over Rafael 1 confirmed a 165m gross gas column in a dolomite reservoir section resembling Ungani's productive interval; the well was being completed with an uncased 'barefoot' section below casing to maximise flow potential ahead of testing.
19 Nov 2021trading halt request● Neutral
Buru Energy requested a trading halt pending wireline log evaluation results at the Rafael-1 exploration well.
17 Nov 2021drilling progress report▲ GoodMajor
Rafael 1 reached 4,141m total depth with good-excellent wet-gas shows (rich in LPG/condensate) over a 120m interval below the previously reported gas influx zone - drilling parameters suggest a real conventional reservoir; logging and a flow-test completion follow.
9 Nov 2021drilling progress report▲ GoodMajor
Rafael 1 hit gas-charged vugular dolomite while drilling ahead in 8½-inch hole to 3,872m, prompting Buru to run casing before continuing into 6-inch hole - encouraging wireline log and pressure data ahead of a planned flow test on what would become the Rafael gas/condensate discovery.
3 Nov 2021drilling progress report▲ GoodMajor
Rafael 1 reached 3,872m, penetrating the top of its main objective carbonate section with encouraging light-oil-to-wet-gas mudgas indications across several zones, though significance awaited wireline logging and any warranted flow test.
26 Oct 2021other● Neutral
Buru lodged its mandatory JobKeeper payments disclosure covering FY2020 and FY2021.
25 Oct 2021drilling progress report▲ Good
Rafael 1 reached its 3,500m casing point (9⅝-inch casing about to run) after slow drilling through hard Anderson Formation sandstones - encouragingly, the basal Anderson section showed elevated mud-gas readings up to 4%, about 10x background.
21 Oct 2021resource reserve update▲ Good
2H Resources (already flagged as a Buru energy-transition business by mid-2021) had been granted over 29,000 sq km of South Australian permits on trend with legacy natural hydrogen discoveries, with on-ground prospecting to follow.
13 Oct 2021production update▲ Good
A ~74,000-bbl Ungani lifting to BP (~A$3.7M to Buru on a strong Brent price) came as the field held a stable ~800 bopd; Buru confirmed Ungani 8, a horizontal well targeting an undrained fault block near Ungani 6H, for after Rafael 1 finishes drilling.
11 Oct 2021well test result▼ BadMajor
Swab testing confirmed good reservoir quality across all four porous zones logged in Currajong 1, but recovered no oil - pressure data showed the zones are water-bearing, closing out Buru's first well of the 2021 Canning Basin program as non-commercial despite a real westward extension of the Ungani-style dolomite play; the well was suspended pending further review.
30 Sept 2021quarterly cashflow report● Neutral
Buru Energy reported $32.9M cash on hand at the end of the quarter ended 2021-09-30, having used $2.4M in operating cash flow that quarter. Against $2.4M in quarterly cash outgoings (operating costs plus exploration spend), that implied roughly 14.0 quarters of funding on hand.
28 Sept 2021drilling progress report● Neutral
Rafael 1 drilled ahead to 2,772m (slower than planned due to hard-formation bit trips) toward its casing point, while Currajong 1's four test zones were perforated and rigged up for testing due to start shortly.
23 Sept 2021capital raising announcement● Neutral
Buru called a shareholder meeting to formally ratify the shares it had already issued under its April 2021 placement - a routine governance step required under ASX rules that cap how many shares a company can issue without shareholder approval, not a sign of any problem with the earlier raise.
8 Sept 2021drilling progress report▲ Good
Rafael 1 drilled ahead toward its casing point with no incidents, while the JV finalised a four-zone Currajong 1 test program expected to start late September.
23 Aug 2021drilling spud▲ GoodMajor
Rafael 1 spudded at 01:45am on 22 August 2021, targeting 69 million barrels of mean prospective resources on a large structure likened to prolific Devonian carbonate plays in Western Canada, to be followed by the Ungani 8 development well.
18 Aug 2021drilling progress report▲ Good
The rig was rigged up at Rafael 1 ahead of spud, while Currajong 1's multi-zone testing program was being finalised pending additional equipment.
9 Aug 2021drilling progress report▲ Good
Currajong 1's casing program finished and the rig moved to Rafael 1, while Ungani 8 received all JV approvals to be drilled after Rafael 1.
5 Aug 2021drilling progress report▲ GoodMajor
Currajong 1 reached 2,340m with oil-saturated zones resembling Praslin 1's reservoir (to be confirmed by a planned cased-hole flow test), and a specialised hydrogen mudgas detector found up to 6% hydrogen over a 6m interval - an early, real signal of natural hydrogen in the Canning Basin.
1 Aug 2021investor presentation● Neutral
Buru issued an investor presentation, 'Driving the Integrated Energy Transition', positioning the company's core oil and gas business alongside its emerging energy-transition ventures.
28 July 2021drilling progress report● Neutral
Currajong 1 resolved earlier 13⅜-inch casing issues by installing contingent 9⅝-inch casing, with wireline logs acquired to 1,954m before drilling ahead.
26 July 2021drilling progress report▼ Bad
Currajong 1 drilled to 1,952m; an intermediate casing string issue has cost several days of delay.
9 July 2021drilling progress report● Neutral
Following Currajong 1's 1 July spud, intermediate casing was set at 715m and drilling resumed toward a 2,300m total depth, while the 2021 seismic program's start slipped to late July after the survey crew was temporarily lent to another Perth Basin operator.
1 July 2021drilling spud▲ GoodMajor
Currajong 1 spudded at 10:00am on 1 July 2021, a large 3D-seismic-defined structure targeting 28 million barrels of mean prospective resources (Buru/Origin 50/50), to be followed by Rafael 1.
30 June 2021quarterly cashflow report● Neutral
Buru Energy reported $35.2M cash on hand at the end of the quarter ended 2021-06-30, having used $173K in operating cash flow that quarter. Against $173K in quarterly cash outgoings (operating costs plus exploration spend), that implied roughly 203.0 quarters of funding on hand.
30 June 2021investor presentation▲ GoodMajor
A 'Driving the Integrated Energy Transition' deck introduced Buru's new energy-transition portfolio alongside its core oil/gas business: 2H Resources (natural hydrogen), Geovault (CCUS), Battmin (battery minerals), and an integrated gas-and-solar project (REP).
30 June 2021other▲ Good
Buru's H1 2021 interim report showed cash up to $35.2M (from $21.4M) and a half-year loss narrowed sharply to $6.3M from $22.6M.
15 June 2021drilling progress report● NeutralMajor
Buru's 2021 Canning Basin exploration campaign kicked off: the Ensign 963 rig is rigging up at Currajong 1 (spud likely after 24 June due to an equipment delay), the Rafael 1 pad is being prepped for the rig's next move, and a seismic crew is expected in late June/early July.
10 June 2021appendix 2a quotation● Neutral
Buru Energy listed for quotation 6,368,750 new ordinary shares, taking total shares on issue from 532,074,241 to 538,442,991.
10 June 2021cleansing notice● Neutral
Buru Energy lodged a routine cleansing notice confirming 6,368,750 new shares issued under its Share Purchase Plan at $0.16 (raising $1.02 million) complied with disclosure rules and can trade freely.
9 June 2021capital raising announcement▲ GoodMajor
Buru's Share Purchase Plan closed, raising a further $1.02 million from 133 shareholders at $0.16 a share - completing, together with the earlier $15 million institutional placement, a combined roughly $16 million raise. Executive Chairman Eric Streitberg said Buru was now fully funded for its 2021 Canning Basin program, with the first new exploration well (Currajong) about to spud.
