Buru Energy Ltd · ASX:BRU
Buru Energy — Shareholder Meeting (May 2018)
18 slides from Buru Energy's shareholder meeting presentation, May 8, 2018
Slide 1: AGM Presentation ASX Release
ASX Release For personal use only 8 May 2018 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. For investo
Slide 2: Buru Energy AGM: Operations Update
Buru Energy AGM For personal use only 8 May 2018 Operations Update
Slide 3: Buru in 2017 - Active and transformational year
Buru in 2017 - Active and transformational year ▪ Completed the asset swap with Mitsubishi for Buru 100% For personal use only ownership of the oil assets ▪ Ungani oilfield restarted through upgraded export system in Wyndham ▪ Very successful capital raising at 15 cents – price more than doubled sin
Slide 4: Ungani Oilfield development
Ungani Oilfield development ▪ Drilled U4 and U5 For personal use only ▪ Installed ESP’s in U1 and U2 ▪ Installed new oil tanks ▪ Installing flow lines to U4 and U5 ▪ Shut-in in January 2018 due to road closure ▪ Production restarted from Ungani 1 and Ungani 2 on 3 May 2018 ▪ Ungani 5 flowed +1,200 b
Slide 5: Ungani Oilfield restart
Ungani Oilfield restart ▪ Road repaired after rain events For personal use only ▪ Now back on line with road significantly upgraded ▪ Wyndham offloading system working well ▪ Additional FTA and RTA trucks available as required ▪ “Bootstrap” field upgrades and continuous improvement program for effic
Slide 6: Forward program
Forward program Drilling Program ▪ Planning for 3 conventional oil wells on high potential oil targets For personal use only ▪ Current candidates Ungani West, Kurrajong, Yakka Munga ▪ DDGT 1 rig stacked at Ungani 4 being refurbished/maintained for program start in 3rd quarter ▪ Exploration program e
Slide 7: For personal use only
For personal use only 6
Slide 8: Disclaimer
Disclaimer This document has been prepared by Buru Energy Limited ABN 71 130 651 437 (“Buru Energy"). 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 may be aff
Slide 9: Buru Energy AGM: Resolutions For Voting
Buru Energy AGM For personal use only 8 May 2018 Resolutions For Voting
Slide 10: Items of Business
Items of Business For personal use only Resolutions 1. Adoption of Remuneration Report 2. Re-election of Mr Robert Willes as a Director 3. Ratification of prior issue of Shares pursuant to Placement 4. Approval of 10% Additional Placement Capacity 5. Re-approval of the Company's Employee Share Optio
Slide 11: Consideration of the reports
Consideration of the reports For personal use only Reports to be received and considered ▪ Financial Report of the Company ▪ Directors’ Report ▪ Auditor’s Report The Company’s Annual Report for the year ended 31 December 2017 containing each of these reports is tabled at the Meeting 10
Slide 12: Remuneration Report
Remuneration Report For personal use only Resolution 1 – non-binding resolution “That the Company’s Remuneration Report for the period ended 31 December 2017 be adopted.” Proxies Number of valid proxies received 285 Representing voting shares 145,283,827 Percentage of shares voted by proxy 33.63% Pr
Slide 13: Re-election of Mr Robert Willes as a Director
Re-election of Mr Robert Willes as a Director For personal use only Resolution 2 – ordinary resolution “That Mr Robert Willes, who retires in accordance with the Constitution and being eligible to offer himself for re- election, be re-elected as a Director of the Company.” Proxies Number of valid pr
Slide 14: Ratification of prior issue of Shares pursuant to Placement
Ratification of prior issue of Shares pursuant to Placement For personal use only Resolution 3 – ordinary resolution “That, for the purposes of ASX Listing Rule 7.4 and for all other purposes, the prior issue by the Company of 24,023,593 fully paid ordinary shares in the Company for an issue price o
Slide 15: Approval of 10% Additional Placement Capacity
Approval of 10% Additional Placement Capacity For personal use only Resolution 4 – special resolution “That, for the purpose of ASX Listing Rule 7.1A and for all other purposes, approval is given for the issue of equity securities totalling up to 10% of the issued capital of the Company at the time
Slide 16: Re-approval of the Company's Employee Share Option Plan
Re-approval of the Company's Employee Share Option Plan For personal use only Resolution 5 – ordinary resolution “That the Buru Energy Limited Employee Share Option Plan, the principal terms of which are summarised in the Explanatory Notes, and the issue of Options under that plan (including the iss
Slide 17: Reinstatement of Proportional Takeover Provisions
Reinstatement of Proportional Takeover Provisions For personal use only Resolution 6 – special resolution “That, for the purposes of section 648G of the Corporations Act 2001 (Cth), article 5.14 of the Constitution and for all other purposes, articles 5.9 to 5.13 of the Constitution last approved on
Slide 18: For personal use only
For personal use only 17