The company has already reduced costs by changing its design to follow natural land contours.
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Two permits are needed for the work to start - a local building licence and permission to handle radioactive waste
The company’s executive chairman Eric Streitberg flagged Buru planned to bring the well into early production if it is a discovery.
The capital raising was supported by High Peak's directors who subscribed for 2.9 million shares.
The company’s business model is to expose investors to royalty income streams, its chairman Andrew Carroll will outline at this month’s Proactive Investors CEO Session in Sydney next Monday, October 22.
Three additional prospects are estimated to contain significant quantities of oil, gas and condensate.
Buru expects to solidly drill the Ungani West 1 exploration well for 32 days before moving equipment back to Ungani 4ST1 well.
Government support is vital for the development of the Kvanefjeld Project in Greenland.
The company generates value and revenue through royalties on oil and gas exploration, development and producing properties.
Field surveillance has found no impediments to the proposed location of wells for targeting the identified attic of oil.
Results from the parent well will enable Brookside to book significant proved undeveloped reserves.
New funds are earmarked for the upcoming Winx exploration well, due to spud in the first quarter of next year
The Salamanca project retains considerable support locally
The company’s Optimum ship is being designed to optimise the transportation of compressed natural gas (CNG).
Significantly, the newly secured areas include at least parts of prospects already identified for future conventional exploration efforts
The company is developing the Kvanefjeld Rare Earths Project in Greenland.
The results support Brookside’s acreage selection methodology which is key to its acreage acquisition and revaluation business model.
The company expects its oil and gas exploration efforts will add to shareholder value.
Funding will be applied to the Block 9 and Santa Cruz oil projects in Cuba.
The company is developing a rare earths strategy centred on its Kvanefjeld project with uranium and zinc as value-adds.
Kvanefjeld is an advanced rare earths project positioned to become a key supplier of all rare earth elements.
Proceeds will be used to further advance Comet Ridge’s portfolio of east coast gas prospects.
The company is developing the globally significant Kvanefjeld Project in Greenland.
For a well to return 100% of the drilling and completion capital in just 11-months in the current pricing environment is remarkable.
New exploration efforts are coming into the spotlight over the coming months as conventional drilling is slated for 2019