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MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Buru Energy Limited    BRU   AU000000BRU3

BURU ENERGY LIMITED

(BRU)
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End-of-day quote. End-of-day quote AUSTRALIAN SECURITIES EXCHANGE LIMITED - 09/16
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Buru Energy : Weekly Drilling Report - Adoxa 1

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08/12/2019 | 07:37pm EDT

ASX Announcement

13 August 2019

Adoxa 1 - Weekly drilling report

Buru Energy Limited (Buru Energy) provides the following update on operations at the Adoxa 1 exploration well as at 0600 hours Tuesday 13 August 2019.

Since the last report on Thursday 8 August 2019, the well has been drilled ahead in 152 mm (6 inch) hole from 1,916 metres to total depth of 2,300 metres. No further significant hydrocarbon (oil) shows were encountered.

The current operation is running wireline logs to total depth to evaluate the significance of

ASX: BRU

the hydrocarbon indications encountered in the well.

The weekly drilling progress report for the well is attached.

Visit www.buruenergy.comfor information on Buru Energy's current and future activities.

For investor inquiries please contact Buru Energy:

Telephone: +61 8 9215 1800

Freecall: 1800 337 330

Email: info@buruenergy.com

Qualified Petroleum Resources Evaluator Statement

Except where otherwise noted, information in this release related to exploration and production results and petroleum resources is based on information compiled by Eric Streitberg who is an employee of Buru Energy Limited. Mr Streitberg is a Fellow of the Australian Institute of Mining and Metallurgy and the Australian Institute of Company Directors, and a member and Certified Petroleum Geologist of the American Association of Petroleum Geologists. He has over 40 years of relevant experience. Mr Streitberg consents to the inclusion of the information in this document.

1

Level 2, 16 Ord St West Perth WA 6005

1800 337 330

info@buruenergy.com

ABN 71 130 651 437

Weekly Well Operations Report - Adoxa 1

The Adoxa 1 well is located in Exploration License EP428 in the

Permit

Canning Basin of northwestern

Western Australia. The well is

located 120 kms east of Broome and 20 kms northeast of the

Ungani oilfield.

Well Surface Location

Latitude: 17° 55' 44.6641"S

Northing: 8,017,628 mN

Longitude: 123° 20' 34.9175"E

Easting: 536,329 mE

Buru Energy's Interest

Buru Energy Limited holds a 50% interest in the well and in EP428

and is the operator of the permit and the well.

Date of Progress Report

13 August 2019 (AWST)

Current Depth (Total Depth)

2,300 metres

Commencement Date

24 July 2019

Days Since Commencement

20 days

The objective of the well is conventional oil in potentially stacked

Reeves Formation clastic reservoirs in a similar section to where oil

Target Formation

was recovered at the Ungani Far West 1 well. The Anderson

Formation clastic reservoirs are a deeper secondary conventional oil

target.

Operations Since Last Progress

Since the last report on Thursday 8 August 2019, the well has been

drilled ahead in 152 mm (6 inch) hole from 1,916 metres to total

Report

depth of 2,300 metres.

Hydrocarbons Indications

No further significant hydrocarbon (oil) shows were encountered

since the last report on Thursday 8 August 2019.

The current operation is running wireline logs to total depth to

Forward Operations

evaluate the significance of the hydrocarbon indications

encountered in the well.

2

Level 2, 16 Ord St West Perth WA 6005

1800 337 330

info@buruenergy.com

ABN 71 130 651 437

3

Level 2, 16 Ord St West Perth WA 6005

1800 337 330

info@buruenergy.com

ABN 71 130 651 437

Disclaimer

Buru Energy Ltd. published this content on 13 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2019 23:36:06 UTC

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Financials (AUD)
Sales 2019 27,2 M
EBIT 2019 2,90 M
Net income 2019 2,90 M
Finance 2019 51,9 M
Yield 2019 -
P/E ratio 2019 38,6x
P/E ratio 2020 38,6x
EV / Sales2019 2,38x
EV / Sales2020 4,67x
Capitalization 117 M
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Number of Analysts 1
Average target price 0,45  AUD
Last Close Price 0,27  AUD
Spread / Highest target 66,7%
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Managers
NameTitle
Eric Charles Streitberg Executive Chairman
Mark Royle Operations Manager
Shane McDermott Secretary & Head-Finance
Eve Alexandra Howell Independent Non-Executive Director
Robert A. Willes Independent Non-Executive Director
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