Buru Energy Ltd · ASX:BRU
Buru Energy — Shareholder Meeting (November 2024)
27 slides from Buru Energy's shareholder meeting presentation, Nov 21, 2024
Slide 1: General Meeting – Addresses and Corporate Presentation
ASX Announcement 21 November 2024 General Meeting – Addresses and Corporate Presentation Buru Energy Limited (Buru, Company) (ASX: BRU), is pleased to provide the attached address to be made by the Chair of Buru Energy, David Maxwell, and address and presentation to be made by CEO Thomas Nador at th
Slide 2: Authorisation and contact
Decisions on headcount reductions are not easy. We are very mindful of the impact organisational change can have on individuals and their families. To this end, I thank the people that have supported us in the past, and the team that will take us into the future.” For personal use only Authorisation
Slide 3: Chair's Address by David P Maxwell
Chair’s Address by David P Maxwell I was appointed as an independent Non-executive Director of Buru Energy Limited on 29 July 2024. On 15 August 2024, when Eric Streitberg retired as Chair and as a Director, I was elected as Chair of Buru Energy Limited. This last three months has been a very active
Slide 4: Chair's Address (continued)
The four Resolutions before the General Meeting today arise as a consequence of the actions announced on 30 September. I and my Board colleagues are very mindful that the Buru share price performance has been very disappointing over the last three years. Therefore, in September and October the CEO a
Slide 5: CEO Address by Thomas Z Nador
CEO Address by Thomas Z Nador Thank you David and good morning ladies and gentlemen. COVER SLIDE Before I begin, I’d like to acknowledge the Traditional Owners of Country throughout Australia and acknowledge their continuing connection to land, waters and community. I pay my respects to the people,
Slide 6: CEO Address (continued)
As for GeoVault, our Carbon Capture and Storage focused subsidiary, we have significantly minimised the expenditure and focused the activities to support the needs of the Rafael Project which is sensible, considering the role of CCS in any gas development. The results of these decisions have had a m
Slide 7: CEO Address (continued)
The Government recognises the important role gas will play in Western Australia and the future Kimberley energy system to compliment any renewables for electricity generation. To this end Buru Energy is in discussions with several proponents on partnering and offtake. SLIDE 7 As for funding a projec
Slide 8: CEO Address (continued)
SLIDE 10 Looking at the delivery schedule in more detail, the critical path runs through gas and liquids offtake marketing, and approvals – both activities are well underway. Securing gas and liquids offtake agreements for Rafael is a Company priority and will be a significant indicator of confidenc
Slide 9: CEO Address (continued)
SLIDE 14 Battmin activities, focused on mineral exploration in the Canning Basin are not core to Buru Energy. Therefore, we will look to exit our joint venture with Sipa Resources in the near future. SLIDE 15 Buru Energy is undergoing significant change from explorer to developer. We have a fantasti
Slide 10: A focused energy company
For personal use only ASX:BRU A focused energy company Building a compelling foundation Kimberley gas business which generates long term cash flow + growth Presented at the General Meeting Thomas Z Nador, CEO 21 November 2024
Slide 11: Disclaimer
Disclaimer This document has been prepared by Buru Energy Limited ABN 71 130 651 437 (“Buru”) Buru is not aware of any new information or data that materially affects the and has been authorised for the intended purpose by the Non-Executive Chair of Buru information included in this presentation and
Slide 12: Results of the Business Review
RESULTS OF THE BUSINESS REVIEW Strategic Decisions & Outcomes Buru Energy Focus Exploration Subsidiaries Cost Out (Actioned) Rafael Project Ungani Oil For personal use only Develop the - Reduced FTE1 by 40% Rafael Project. Monetise 2H Resources and Identify the - Reduced Director fees by Generate en
Slide 13: Focused on developing a regionally significant gas and liquids business
FOCUSED ON DEVELOPING A REGIONALLY SIGNIFICANT GAS AND LIQUIDS BUSINESS Kimberley energy market currently relies on trucked or imported gas and diesel For personal use only Gas: current demand 9TJ/d – trucked up to 1,400km from the Pilbara. − cost, security and transport emissions challenges. The
Slide 14: Focused on developing a regionally significant gas and liquids business
FOCUSED ON DEVELOPING A REGIONALLY SIGNIFICANT GAS AND LIQUIDS BUSINESS Kimberley energy market currently relies on trucked or imported gas and diesel For personal use only Gas: current demand 9TJ/d – trucked up to 1,400km from the Pilbara. − cost, security and transport emissions challenges. The
Slide 15: Focused on developing a regionally significant gas and liquids business
FOCUSED ON DEVELOPING A REGIONALLY SIGNIFICANT GAS AND LIQUIDS BUSINESS Kimberley energy market currently relies on Kimberley energy system is changing trucked or imported gas and diesel For personal use only WA Government: plans to overhaul the Kimberley Gas: current demand 9TJ/d – trucked up t
Slide 16: Focused on developing a regionally significant gas and liquids business
FOCUSED ON DEVELOPING A REGIONALLY SIGNIFICANT GAS AND LIQUIDS BUSINESS Kimberley energy market currently relies on Kimberley energy system is changing trucked or imported gas and diesel For personal use only WA Government: plans to overhaul the Kimberley Gas: current demand 9TJ/d – trucked up t
Slide 17: Enabling the transformation of the Kimberley energy system
ENABLING THE TRANSFORMATION OF THE KIMBERLEY ENERGY SYSTEM Rafael – significant advantages and benefits compared to the alternatives Kimberley Energy Market Existing trucked / Rafael gas and Diesel For personal use only imported gas and diesel condensate Proximity to market 840 - 1,400 km 90 – 500 k
Slide 18: The Rafael Project
THE RAFAEL PROJECT Gas for power generation and mining with condensate for local diesel replacement Build a compelling foundation Kimberley gas business to generate Objective long term cash flow + growth. For personal use only Interest 100% Buru Energy RAFAEL PROJECT 1C (High confidence, Low volume
Slide 19: Rafael Project Timeline
RAFAEL PROJECT TIMELINE Small scale LNG plant and condensate stripping – low cost, proven solution for remote power generation Activity 2023 2024 2025 2026 2027 2028 2029 SUBSURFACE STUDIES AND SURVEY For personal use only Acquire & Rafael 3D Seismic Survey Process Data interpretation Interpret resu
Slide 20: Value Upside – High Potential Conventional Gas and Oil Targets Defined
VALUE UPSIDE – HIGH POTENTIAL CONVENTIONAL GAS AND OIL TARGETS DEFINED Rafael resource upside + significant exploration inventory across proven and diverse conventional plays Planned 2025 drilling and testing Rafael Project Phase 1 cashflow enables material further growth For personal use only Re-
Slide 21: Pursue Ungani Production Restart for Near Term Cashflow
PURSUE UNGANI PRODUCTION RESTART FOR NEAR TERM CASHFLOW Reinvigorate and extend asset life with drilling of high potential oil exploration well (Mars) Re-establish cashflows from oil business via a potential domestic offtake. For personal use only Objective Near-field exploration to extend produ
Slide 22: 2H Resources – Natural Helium and Hydrogen Exploration Divestment
2H RESOURCES – NATURAL HELIUM AND HYDROGEN EXPLORATION DIVESTMENT Reached a logical point to divest and monetise For personal use only Established a significant portfolio across WA, SA and TAS covering 65,450 km2 across 16 SPA/PELA/ELA areas. Progressing agreement making with key Native Title pa
Slide 23: Battmin – Battery Minerals Exploration Divestment
BATTMIN – BATTERY MINERALS EXPLORATION DIVESTMENT Simplifying the Buru Energy cost and business structure For personal use only Subsidiary was formed to apply Buru’s geological knowledge in the Canning Basin to the exploration of minerals formed by similar processes, and often in association with
Slide 24: Buru Energy – The Focused Energy Company
BURU ENERGY – THE FOCUSED ENERGY COMPANY Uniquely positioned to address the energy trilemma of price, security and sustainability for the Kimberley ……. with growth opportunities thereafter For personal use only 1 2 3 4 5 100% owner of Rafael - the only Clear pathway for a Near term Unique proven sig
Slide 25: Thank you
Thank - you For personal use only ASX:BRU Buru Energy Limited Thomas Nador, CEO Level 2, 16 Ord Street West Perth Western Australia 6005 PO Box 1903 West Perth WA 6872 Phone: 1800 337 330 Email: info@buruenergy.com Web: buruenergy.com 21 November 2024
Slide 26: Corporate Overview
CORPORATE OVERVIEW Significant change - clear focus on building the compelling foundation Kimberley gas business Share Price Information ASX:BRU DAMPIER PENINSULA For personal use only $0.18 $0.16 $0.14 RAFAEL $0.12 PROJECT $0.10 $0.08 $0.06 CANNING $0.04 BASIN $0.02 $0.00 16-Apr-24 28-Nov-23 26-Dec
Slide 27: Buru Energy Board and Management
BURU ENERGY BOARD AND MANAGEMENT New leadership with deep industry experience and proven track record Mr David Maxwell Thomas Nador For personal use only Independent Non-Executive Chair CEO >35yrs strategy, gas commercialisation, risk and >25yrs strategy, resource development, commercial asset manag