Past year: ▼ 28%(1.20c – 2.40c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
8 July 2022director officer appointment● NeutralMajor
Shane McDermott - CFO and Company Secretary for over 13 years, one of Buru's longest-serving executives - resigned; commercial manager Alex Forcke stepped in as interim Company Secretary while Buru searched for a permanent CFO. A genuine loss of institutional knowledge after more than a decade, though handled as a planned, orderly exit rather than a sudden departure.
30 June 2022quarterly cashflow report● Neutral
Buru Energy reported $19.0M cash on hand at the end of the quarter ended 2022-06-30, having used $8.5M in operating cash flow that quarter. Against $8.9M in quarterly cash outgoings (operating costs plus exploration spend), that implied roughly 2.1 quarters of funding on hand.
30 June 2022other▼ Bad
Buru's H1 2022 interim report showed cash down to $19.0M (from $23.7M) and a half-year loss widening to $9.5M from $6.3M.
30 June 2022production update▲ GoodMajor
A record ~75,000-bbl Ungani lifting (~A$5.5M to Buru, over $1M above the prior record) went out as Origin Energy asked for more time on internal approvals, delaying Buru's planned Rafael 3D seismic survey and further flow test toward early 2023.
7 June 2022director interest notice● Neutral
Buru Energy director Robert Willes acquired 86,957 ordinary shares under a Share Purchase Plan.
7 June 2022appendix 2a quotation● Neutral
Buru Energy listed for quotation 55,350,094 ordinary shares from a previously-announced capital raise.
7 June 2022director interest notice● Neutral
Buru Energy director Malcolm King acquired 43,479 ordinary shares under a Share Purchase Plan.
7 June 2022appendix 2a quotation● Neutral
Buru Energy listed for quotation 57,600,094 new ordinary shares, taking total shares on issue from 538,442,991 to 596,043,085.
7 June 2022capital raising announcement▲ GoodMajor
Buru's rights issue raised about $9.2 million (entitlements, shortfall applications, and a placement to new investors combined) despite what Executive Chairman Eric Streitberg called challenging market conditions - fully funding the next phase of appraisal work, including flow testing and 3D seismic, at its Rafael gas and condensate discovery.
3 June 2022capital raising announcement● Neutral
Buru pushed back the announcement of its rights issue results by a few days due to postal delays in processing applications - a minor administrative delay, not a sign of any problem with the raise.
26 May 2022investor presentation● Neutral
A near-duplicate re-lodgement of the 'Oil and Gas and the Energy Transition' investor deck two days later.
26 May 2022other● NeutralMajor
Buru chose a coil-tubing unit (cheaper, less formation-damage risk than a workover rig) to clean up and individually flow-test multiple Rafael 1 zones in Q3 2022, including the gas-influx zone behind casing and a light-oil-bearing Upper Laurel Dolomite zone; the update also references a Carnarvon Basin (L20-1) farmout for a CCS program and a rights issue backed by major shareholders.
24 May 2022farm in farm out agreement▲ GoodMajor
Buru and Energy Resources Limited (EnRes, a Mineral Resources Limited subsidiary) agreed to restructure their Carnarvon Basin L20-1 permit (Buru 25%/EnRes 75% and operator, EnRes carrying Buru's first two 2023 wells) and formed an aligned Geovault carbon-capture-and-storage joint venture on the same equity split.
19 May 2022agm notice● Neutral
Buru Energy shareholders approved the resolutions put to the vote at the company's 2022 Annual General Meeting.
19 May 2022agm notice● Neutral
Buru Energy convened its 2022 Annual General Meeting for 19 May 2022, with shareholders asked to adopt the remuneration report, re-elect director Robert Willes, and approve a 10% additional placement capacity.
19 May 2022investor presentation● Neutral
An 'Oil and Gas and the Energy Transition' investor deck referenced Buru's official 26 April 2022 ERCE contingent/prospective resource release for Rafael.
13 May 2022director officer appointment▲ GoodMajor
Buru appointed Thomas Nador (from Beach Energy) as Chief Executive Officer to lead day-to-day operations and Rafael commercialisation, with Executive Chairman Eric Streitberg transitioning to Non-Executive Chair.
12 May 2022capital raising announcement● NeutralMajor
Buru mailed the prospectus for a 1-for-6 rights issue to raise up to $14.4 million at $0.16 a share, earmarked to fund a multi-phase appraisal program and commercial feasibility studies for its Rafael gas and condensate discovery.
6 May 2022securities registry admin● Neutral
Buru Energy adjusted the exercise price of its unlisted employee options (expiring 31 December 2023) from $0.23 to $0.2282, a routine anti-dilution mechanic following its May 2022 rights issue.
3 May 2022agm notice● Neutral
Buru Energy issued its notice for the 2022 Annual General Meeting, covering the routine agenda (director elections, remuneration report adoption, and other standard resolutions).
3 May 2022appendix 3b new issue● Neutral
Buru lodged a standard pro-rata issue notice for up to 89,740,499 new ordinary shares, issue date 7 June 2022.
3 May 2022capital raising announcement● NeutralMajor
Buru Energy launched a 1-for-6 non-renounceable rights issue to raise ~$14.4 million at $0.16/share (a ~24% discount), funding an appraisal program for the Rafael gas condensate discovery.
2 May 2022trading halt request● Neutral
Buru Energy requested a trading halt pending a rights issue announcement.
26 Apr 2022resource reserve update▲ GoodMajor
ERCE's independent certification found Rafael 1's Ungani-Dolomite-equivalent reservoir holds Gross 3C Contingent Resources of ~1.02 TCF of gas and 20.5 million barrels of condensate (1C: 59 BCF/1.2 MMbbl), with pressure data suggesting the gas column could be even larger than mapped.
26 Apr 2022investor presentation● Neutral
Buru released an updated investor presentation, 'Oil and Gas and the Energy Transition', covering its asset portfolio and strategy as it worked to grow beyond its core oil business.
26 Apr 2022capital raising announcement▲ GoodMajor
Buru launched a 1-for-6 renounceable Rights Issue at 16 cents a share (a 24% discount) to fund appraisal of its newly confirmed, independently-assessed 1+ TCF Rafael gas/condensate discovery, including 2022 well testing and seismic work and a further drilling program planned for the following year.
20 Apr 2022regulatory community update▲ GoodMajor
Buru was offered a ~$7M Commonwealth grant over three years to fund a Geovault carbon-capture feasibility study in the onshore Carnarvon Basin, near its L20-1 permit application.
14 Apr 2022agm notice● Neutral
Buru Energy sent shareholders a covering letter alongside its 2022 Annual General Meeting notice of meeting.
8 Apr 2022resource reserve update● NeutralMajor
Buru's independent Rafael resources report neared completion (delayed by lab workload and new seismic reprocessing) while Ungani, now at just ~600 bopd, got a workover of Ungani Far West 1 to recomplete it back to its originally productive Ungani Dolomite zone.
31 Mar 2022quarterly cashflow report● Neutral
Buru Energy reported $18.8M cash on hand at the end of the quarter ended 2022-03-31, having used $3.6M in operating cash flow that quarter. Against $4.8M in quarterly cash outgoings (operating costs plus exploration spend), that implied roughly 3.9 quarters of funding on hand.
