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BRU, BURU ENERGY LIMITED
nipper
post Posted: Sep 23 2019, 01:31 PM
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Fracking applications now welcome in W.A.

QUOTE
The West Australian Labor Government set up an independent scientific inquiry into the risks posed by fracking after being elected in 2017 and introduced a moratorium on the controversial practice. But in November 2018 they announced the moratorium would be lifted after the inquiry found fracking posed a low risk to human health and the environment if appropriately regulated.

The only company to have fracked wells in the Canning Basin has welcomed the lifting of the moratorium. Buru Energy did not respond to ABC requests for an interview, but in a statement to the stock exchange the company said they looked forward to working with government to implement the recommendations of the Independent Scientific Inquiry for further regulation of the industry.

"The moratorium has been lifted on the majority of Buru's current titles," the statement said in part. "We have agreed with the Government that the Broome township and water supply areas in our existing petroleum titles will form part of the Dampier Peninsula fraccing (sic) exclusion zone."

https://mobile.abc.net.au/news/2019-09-23/k...lifted/11475150



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Aug 5 2019, 03:18 PM
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5 August 2019
16 October 2018
Adoxa 1 - Significant oil shows encountered
QUOTE
Buru Energy Limited (Buru Energy) provides the following update on operations at the Adoxa
1 exploration well as at 0600 hours Monday 5 August 2019. Buru Energy and Roc Oil
(Canning) Pty Ltd each have a 50% equity interest in the Adoxa 1 well.

Since the last report, the well has been drilled ahead in 152 mm (6 inch) hole to a depth of
1,609 metres at which point a bit trip has been undertaken. The current operation is
completing the bit trip prior to drilling ahead to total depth.

The current formation is the primary objective Reeves Formation.
Good to excellent oil shows have been encountered in cuttings samples, with live oil observed
over the shakers at surface, in what is interpreted to be a good quality sand section at a
measured depth of 1,443 metres. The best oil shows were noted over an approximate 10
metre interval. The significance of these shows will need to be evaluated with wireline logs
once the total depth of the well is reached. Other less well developed oil shows were also
observed in cuttings samples of interpreted good quality sands at 970m and 1,565m
measured depth.

Current interpretation of the seismic data suggests that, as originally prognosed, there are
additional potential reservoir targets between the current depth and the proposed total depth
of 2,200 metres, including the Anderson Formation, and these targets are expected to be
encountered during the coming week.


SP up 5.77% currently @ 27.5c
https://www.shortman.com.au/stock?q=bru
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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
 
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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Combining Fundamental comments with Fundamental charts.
 
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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Combining Fundamental comments with Fundamental charts.
 
 


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