Buru Energy Ltd · ASX:BRU
Buru Energy — Shareholder Meeting (May 2019)
18 slides from Buru Energy's shareholder meeting presentation, May 16, 2019
Slide 1: ASX Announcement: AGM Presentation
ASX Announcement 16 May 2019 AGM Presentation Buru Energy Limited provides the attached presentation to be given by the Company’s Executive Chairman at today’s Annual General Meeting. Visit www.buruenergy.com for information on Buru Energy’s current and future activities. ASX: BRU 16 October 2018 Fo
Slide 2: Buru Energy: Profitable Conventional Oil Producer and Explorer
Buru Energy Profitable Conventional Oil Producer and Explorer AGM 16 May 2019 ae Energy
Slide 3: Investment Value Opportunity
INVESTMENT VALUE OPPORTUNITY PROFITABLE, EXTENSIVE BASIN NEAR TERM BALANCED LOW COST OIL CONTROLLING DRILLING PORTFOLIO PRODUCER ACREAGE PROGRAM Proven, established Significant upside Multiple exploration targets Good cash flow revenue stream Controlling position Low cost drilling and Strong balance
Slide 4: Diverse Portfolio
DIVERSE PORTFOLIO Underexplored Canning Basin in NW WA 5.5 million gross acres (3.53 million net) Experienced local operator with high permit equities Profitable conventional oil production from Ungani Oilfield Extensive exploration portfolio with active program Major liquids rich tight gas portfoli
Slide 5: Value Circle
VALUE CIRCLE OIL AND GAS HIGHLY EXPERIENCED WITH MAJOR Balanced Realising AND WELL CONNECTED EXPLORATION PROGRAM Portfolio value LOCAL OPERATOR SELF FUNDED CONVENTIONAL OIL EXPLORATION AND Financial Production PRODUCTION WITH DEVELOPMENT Strength ONGOING DEVELOPMENT 4
Slide 6: Production: Ungani Oilfield
PRODUCTION: UNGANI OILFIELD High quality conventional oilfield Buru 50% and Operator (Roc Oil 50%) Currently producing ~1,100 bopd 2019 development program with the aim of at least doubling production Profitable at oil prices >US$30 per barrel 5
Slide 7: Ungani Oilfield: 2019 Program
UNGANI OILFIELD: 2019 PROGRAM Drilling two horizontal production wells Wells will be drilled by NGD 405 rig and coiled tubing unit Wells designed for maximised drainage in carbonate reservoirs Wells drilled with rig to top of reservoir Reservoir sections drilled horizontally and underbalanced to min
Slide 8: Outstanding Exploration Potential
OUTSTANDING EXPLORATION POTENTIAL High potential exploration portfolio Variety of play types (carbonates and clastics) Proven conventional Dolomite play over 150 kms strike length Basin wide Reeves Sandstone potential identified 2019 program targeting range of prospects up to world scale High capaci
Slide 9: 2019 Drilling Program: Yakka Munga 1
2019 DRILLING PROGRAM: YAKKA MUNGA 1 Multi target regional structure with Reeves target to be drilled in 2019 program Recent review of Reeves Formation from which oil was recovered in Ungani Far West 1 has confirmed basin wide conventional sandstone potential Relatively shallow depth (2,400m) Over 5
Slide 10: 2019 Drilling Program: Rafael
2019 DRILLING PROGRAM: RAFAEL 1 Very large well defined structure Over 300 metres of closure (world scale) Interpreted to be a reef like feature Most likely Nullara reef carbonates – similar to the Blina Field Interpreted excellent seal over the reservoir Gogo source rock at Blina and proven in the
Slide 11: 2019 Drilling Program: Miani
2019 DRILLING PROGRAM: MIANI Large Hydrothermal Dolomite feature on the Lennard Shelf Well defined by 3D seismic with many follow-ups Lennard Shelf has all the ingredients of an extensive hydrothermal Dolomite province Nullara reefal carbonates extensively altered to produce a “sag” feature Analogs
Slide 12: 2019 Program: Blina Yellowdrum
2019 PROGRAM: BLINA YELLOWDRUM Blina Field has a Yellowdrum upper producing horizon equivalent to the Ungani Dolomite Over 40 metres of Dolomite level closure 400,000 barrels produced from bottom zone Substantial potential in the tighter upper reservoir section that has not been adequately tested or
Slide 13: 2019 Program: Other Activity
2019 PROGRAM: OTHER ACTIVITY Other planned activities include: Butler well This well is on the Lennard Shelf in the adjoining permit to EP129 Very large upside conventional prospect Yulleroo conventional test Yulleroo Gasfield has potential for conventional gas resources with high liquids content Se
Slide 14: 2019 Program: Indicative Timeline
2019 PROGRAM: INDICATIVE TIMELINE 2019 Ungani Development Wells Buru/Roc JV Exploration Lennard Shelf Other 13
Slide 15: Financial and Corporate
FINANCIAL AND CORPORATE ORDINARY SHARES ON ISSUE 432 M MARKET CAPITALISATION ~A$100M CASH (AS OF 31 MARCH 2019) $61.5M DEBT (AS OF 31 MARCH 2019) $4.5M ~50% SOPHISTICATED AND REGISTER INSTITUTIONS ASX:BRU ~7% MANAGEMENT AND DIRECTORS TURNOVER ~8m SHARES PER MONTH $0.39 May, 2018 0.45 $0.15 Capital $
Slide 16: Why Invest?
WHY INVEST? PROFITABLE, LOW NEAR TERM STRONG BALANCE UNIQUE IN THE SMALL COST OIL DRILLING ACTIVITY SHEET AND POSITIVE CAP SECTOR – PRODUCER WITH ON LARGE CASH FLOW FROM PRODUCTION, BALANCE CONTROL OVER PROSPECTS WITH PRODUCTION TO SHEET AND EXPLORATION ACTIVITY LARGE EQUITIES SUSTAIN INTERNAL FUNDI
Slide 17: Disclaimer
DISCLAIMER IMPORTANT NOTICE This document has been prepared by Buru Energy Limited ABN 71 130 651 437 (“Buru’). This presentation contains certain statements which may constitute "forward-looking statements”. It is believed that the expectations reflected in these statements are reasonable but they
Slide 18: Level 2, 16 Ord Street West Perth Western Australia 6005
LEVEL 2, 16 ORD STREET WEST PERTH INFO@BURUENERGY.COM WESTERN AUSTRALIA 6005 1800 337 330 BURUENERGY.COM Investor Presentation | 16 May 2019