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BRU, BURU ENERGY LIMITED
blacksheep
post Posted: Nov 27 2018, 07:03 PM
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Might be worth watching tomorrow after the WA Government lifted it's fraccing moratorium on Bru's EP's - announced after the market close

Western Australian Government lifts Fraccing Moratorium on Buru’s Exploration Permits
QUOTE
Buru Energy welcomes the release of the report prepared by the Independent Scientific Panel
Inquiry into Hydraulic Fracturing. The conclusions mirror every other scientific inquiry that has
been conducted in Australia. The report concludes that fraccing is low risk and can be
conducted safely if properly executed and regulated.

We also note the Western Australian government’s intention to provide a regulatory framework
that will ensure that the industry is operating in a transparent manner and that any risks and
challenges are appropriately managed. We also note that Buru Energy is already operating in a
manner that generally meets or exceeds these proposed regulatory changes.

The conclusion of this inquiry should give parties with a genuine interest in the industry
confidence that we can continue our operations in a best practice framework and should also
provide further confidence to the 80% of Kimberley people who made submissions to the
inquiry supporting our activity.

Buru has defined a major accumulation of natural gas in the Canning Basin and has undertaken
fraccing activity in three wells with no impact on the environment. It has been prevented from
further appraising and developing this resource by the moratorium and inquiry process and
welcomes the Government’s intention to lift the moratorium over its existing permits.

The inquiry confirms our belief that development of this resource can be undertaken safely and
with little impact on the social and environmental values of the Canning Basin
.
We also look forward to continuing our engagement with the Traditional Owners of the area,
who should draw considerable comfort from this inquiry’s findings. We note that these findings
are also in accordance with the scientific reviews carried out into Buru’s activities by the
Traditional Owner groups with whom we operate. These independent reviews also concluded
that fraccing activities were of low risk and could be conducted safely.

The development of the natural gas resources of the Canning Basin will generate jobs, local
business opportunities and the social investments that gas companies make to help build a
better future for the communities in which we operate.

Most importantly, it will provide a pathway to a long term sustainable future for the traditional
owners in the area by providing jobs, business opportunities and social and economic benefits.
The next step for Buru and the other operators in the basin is to continue with our exploration
and appraisal activity to build on our already extensive knowledge of the gas resources and the
environment and the social framework, to enable us to make informed decisions on future
development.

We look forward to bringing the benefits that natural gas can provide to the whole of northern
Western Australia.


Mark McGowan lifts moratorium on WA fracking
Daniel NewellThe West Australian
Tuesday, 27 November 2018 4:26PM
https://thewest.com.au/business/energy/mark...-ng-b881033600z

https://www.watoday.com.au/national/western...108-p50ewe.html
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
neilo3
post Posted: Oct 25 2015, 04:50 PM
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Hi all, Buru may be worth a look shortly.They have a few things happening at the moment and are getting near the pointy end.
2 Oil wells being drilled and awaiting some frac results from the gas wells.

 
flower
post Posted: Aug 31 2015, 10:54 AM
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BRU making great strides as Eric Streitberg takes control once again of the company.

The Praslin 1 exploration well results show another oil discovery (subject to testing).

Immediate future for the share price looks tempting (currently up 50% from its bottom) as the POO (WTI) may have now bottomed for this move, and Praslin is only the first of this years drilling programme.

2 charts, BRU and WTI.
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prakashd3000
post Posted: Dec 9 2014, 09:40 PM
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In Reply To: neilo3's post @ Dec 9 2014, 08:27 PM

Thanks for the information. Sounds positive.

 
neilo3
post Posted: Dec 9 2014, 08:27 PM
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My 2 cents worth. Been away for a while but back following.

The laurel Gas formations has been estimated at 47 TCF gas and 1.2 billion barrels of condensate over all the permit which is the yulleroo and the Valhalla.It seems to me that the initial target will be the yulleroo as it is closer to the NW highway and hence the construction of the gas pipeline down to join the Dampier gas pieline. Gas has been in all 4 yulleroo wells over a 1600 metre section. It is conventional gas and not coal seam gas but does need stimulation to get a better flow. But it is over 2km deep so not affecting any water reservoirs
Yulleroo on its own has more than 6.6 TCF and 160 million barrels of condensate.Yulleroo 3 found some conventional reservoir gas at 3200m deep which may have decent flow rates without stimulation. They did not flow test at the time.Yulleroo 2 had a trial stimulation back in 2010. Was not conclusive as they had trouble with high pressure zones but only flowed it at 0.3millcf per day.
The plan is to build a pipeline from Yulleroo to Dampier with a target of 200TJ/day. With the oil price where it is I don't put too much value there. It seems to me that OPEC is putting the squeeze on the US shale oil producers. Just working out Who's the Boss.
Anyway I don't see too much happening till April next year when they get the first frac happening. But if you have long term viewthen now could be a time to start accumulating.
That's my 2c


 
flower
post Posted: Nov 28 2014, 09:28 AM
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Some progress being made in the fraccing access objections area:
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Operations Update - Tight Gas Pilot Exploration Program
http://www.asx.com.au/asx/statistics/displ...;idsId=01579698



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flower
post Posted: Nov 27 2014, 03:18 PM
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BRU closed down 27%.



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flower
post Posted: Nov 27 2014, 02:56 PM
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In Reply To: prakashd3000's post @ Nov 27 2014, 02:40 PM

Buru share price back to square one. Were we taken for a ride?
Did try and warn you lmaosmiley.gif



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flower
post Posted: Nov 27 2014, 02:53 PM
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QUOTE
"Thought you guys were more sophisticated than getting hooked into rumours, can see where the rumours are being generated from in general, again am surprised that to day's 20% rise hasn't prompted another speeding ticket."

That isn't even worth responding to - partly because the sentence doesn't even make sense, partly because, well, it just isn't worth responding to.

Wren if you find any of those cyanide pills, please PM me



QUOTE
What I believe does not make one iota of difference. The point is that there is a rumour. The market loves a rumour. Often rumours will move markets much more than actual facts. Most people in the market for longer than 5 minutes will have worked that out. The Glencore - SYR rumour added $250m in market cap to SYR in two trading days. There are dozens of examples out there similar to this.

Besides that, the rumour could easily be true. A couple of months ago Twiggy was in the news complaining about the government not carrying out the 'use it or lose it' philosophy in the oil and gas industry. He was implying that FMG would love to get its hands on some gas assets (Scarborough was mentioned). On top of that there was a strong rumour recently that FMG were running their rulers over the Apache assets too.

Given the follow through in SP increase today I would say that either (a) the rumour is true or (b) that there are a lot of people out there believing the rumour.

O: You didn't tell us who your broker is.

It is very well known that Twiggy is on the look out for gas in the general Pilbara area to power his plants/vehicles, but specifically BRU?

Don't believe it can be BRU since as far as I know they don't yet produce gas as they are thwarted by the greenies, they do produce oil but that isn't what Twiggy is looking for right now (as far as I know).

Thought you guys were more sophisticated than getting hooked into rumours, can see where the rumours are being generated from in general, again am surprised that to day's 20% rise hasn't prompted another speeding ticket.

Cynical ones amongst us may see another pump and dump exercise, personally hope the recent price/volume rises are the markets acceptance that ES is taking steps to stabilise the ship by bringing on the $25m exploration programme on leases EP 390, 438,471 and 473, and therefore doesn't require another speeding ticket.

BRU do say that any potential hydrocarbon zones will be investigated with pressure sampling tools but will not be flow tested, so on the other hand Commodore 1 may only be the satisfaction of year 4 work commitment on that permit and nothing more than that.



Twiggy no longer interested in BRU?

Pump and Dump?

or as thought originally market today reacted to:
Ungani North 1 Well Test Update
http://www.asx.com.au/asx/statistics/displ...;idsId=01579158

Well results not too flash.
--------------------------------------------

However Commodore 1 reports:
Weekly Drilling Report - Commodore 1
http://www.asx.com.au/asx/statistics/displ...;idsId=01577105

Commodore 1 exploration well on track
-----------------------------------------------

All normal ASX announcement procedure, little wonder BRU replied as they did to the ASX speeding ticket.


So much for the "rumours". Trust not too many got caught. BRU down 23% .
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Optionsman
post Posted: Nov 27 2014, 02:49 PM
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In Reply To: prakashd3000's post @ Nov 27 2014, 02:40 PM

That's the way rumours usually play out

 
 


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