Buru Energy Ltd · ASX:BRU
Buru Energy — Shareholder Meeting (November 2010)
18 slides from Buru Energy's shareholder meeting presentation, Nov 5, 2010
Slide 1: ASX Announcement: 2010 AGM Presentation
Buru Energy Limited ABN 71 130 651 437 Level 1, 418 Murray Street Perth, Western Australia 6000 PO Box 7794, Perth Cloisters Square WA 6850 Ph: 61-8 9215 1800 Fax: 61-8 9215 1899 www.buruenergy.com ASX ANNOUNCEMENT (ASX: BRU) 5 November 2010 2010 AGM Presentation In accordance with ASX LR 3.13.3, pl
Slide 2: Overview and Exploration Update
Overview and Exploration Update 2010 Annual General Meeting 5 November 2010
Slide 3: Overview
Overview Buru is a well funded oil and gas exploration company with a substantial international partner and an active onshore Australian exploration program for very high value targets: - Huge, contiguous, high quality acreage holding in the Canning Superbasin in the Kimberley region in the north we
Slide 4: Corporate Status
Corporate Status Buru’s Buru offers shareholders exposure to material shareholder upside breakdown 6% Management alignment – Buru’s management holds ~6% of the shares on issue, ensuring a very close 42% alignment with shareholders 52% Well funded – Buru has no debt and net cash available for explora
Slide 5: Mitsubishi Joint Venture
Mitsubishi Joint Venture In June 2010 Buru entered into a joint venture with Mitsubishi involving up to $152.4 million of exploration and development expenditure by Mitsubishi ‒ Mitsubishi has the right to earn interests in Buru’s exploration permits by carrying up to $62.4 million of exploration fo
Slide 6: 2010 Exploration Program
2010 Exploration Program Buru’s 2010 exploration campaign is continuing Initial wells – Buru drilled two wells in close proximity to its existing oil fields. Neither of these wells encountered commercial hydrocarbons. Paradise-1 in the southwestern Lennard Shelf Province is targeting significant oil
Slide 7: Current drilling program - Paradise-1 location
Current drilling program - Paradise-1 location Paradise -1 Paradise -1 Canning Superbasin Infrastructure - Paradise 1 location Local infrastructure - Paradise 1 location ‒ The Paradise-1 well is located in exploration permit EP 371, on the boundary with EP 428 ‒ Paradise -1 is well located in terms
Slide 8: Paradise-1 description and prognosis
Paradise-1 description and prognosis Paradise-1 is the third exploration well to be drilled in the 2010 drilling program and is the first of the wells in the Buru/Mitsubishi Joint Exploration program ‒ The prospect is a large anticlinal feature with well developed closure and was confirmed by Buru’s
Slide 9: Nangu-1
Nangu-1 Nangu-1 will be the next exploration well to be drilled in the 2010 drilling program ‒ Nangu-1 is located in Permit EP 471, approximately 250 kilometres south of Broome ‒ The well is an important test of a major play type with significant potential for gas and condensate ‒ The well is target
Slide 10: Yulleroo-2 location and operations summary
Yulleroo-2 location and operations summary The Yulleroo-2 stimulation and test is part of Buru’s 2010 Canning Superbasin exploration program and is a major component of the Joint Exploration Program with Mitsubishi Corporation. Yulleroo-2 is in exploration permit EP 391 some 80 kilometres from Broom
Slide 11: Yulleroo accumulation technical summary
Yulleroo accumulation technical summary The Yulleroo-1 and Yulleroo-2 wells have defined a large gas and condensate accumulation with a combination of conventional gas, tight gas and shale gas reservoirs. The Yulleroo-2 stimulation and flow test is designed to determine if commercial rates of gas pr
Slide 12: Yulleroo-2 stimulation program context
Yulleroo-2 stimulation program context The revolution in long reach horizontal drilling and well stimulation techniques, and the paradigm shift in thinking about reservoirs has led to unlocking of vast reserves in tight gas and shale gas reservoirs. Gas is now produced from reservoirs that have the
Slide 13: Yulleroo-2 stimulation process and progress
Yulleroo-2 stimulation process and progress The stimulation (fraccing) technique being used is similar to methods used extensively in the US for shale gas production and has been designed to be as simple and technically robust as possible. The stimulation program is being conducted by BJ Services un
Slide 14: Buru's gas potential in the Canning Superbasin
Buru’s gas potential in the Canning Superbasin There is no reason the enormous success of the tight gas and shale gas developments in the US Laurel Shales cannot be replicated in Australia, and the Canning Superbasin has widespread potential for these types of accumulations. Apart from the Yulleroo-
Slide 15: Stokes Bay-1 well test
Stokes Bay-1 well test The Stokes Bay-1 well test will attempt to provide a definitive answer to the content of the reservoir encountered in Stokes Bay-1 − The Stokes Bay-1 well was drilled in late 2007, and encountered cavernous porosity with total mud losses in the interpreted Nullara Formation re
Slide 16: 2010 Seismic
2010 Seismic Buru is currently acquiring extensive 2D seismic in preparation for the for the 2011 drilling campaign Terrex Seismic is undertaking the Yulleroo South and Pijalinga 2D seismic surveys. Terrex Seismic successfully completed the Bunda 3D and Paradise 2D seismic surveys in 2009 on time an
Slide 17: 2011 Exploration Program
2011 Exploration Program The 2011 exploration program is targeting a wide variety of prospects to maximize the chance of exploration success Exploration Philosophy ‒ The Canning Superbasin requires a systematic regional exploration program over a period of several years to achieve long term success
Slide 18: Summary
Summary Buru is a well funded oil and gas exploration company with a substantial international partner and an active exploration program: - 75,000 square kilometres of exploration permits across the most prospective parts of the Canning Superbasin in the Kimberley region in the north west of Western