leadf
logo-loader
viewBuru Energy Ltd
(
ASX:BRU
)

Buru Energy accelerating exploration efforts following Roc Oil transactions

Buru Energy (ASX:BRU) executive chairman Eric Streitberg speaks to Proactive Investors about the Australia-focused oil and gas company's recent deal with Roc Oil (ASX:ROC) to sell half of its 100% ownership in the Ungani Oilfield for $64 million, and enter a Joint Venture on three of its most advanced exploration permits for a carry of $20 million. Buru Energy retains operatorship.

"The lifeblood of any company like ours is finding more oil and producing more oil, and that of course requires capital. So this seemed like a good time to bring in a partner who had a big balance sheet and was able to help us move the project forward more quickly than we would have been able to do with our internal resources," says Streitberg.

Quick facts: Buru Energy Ltd

Follow
ASX:BRU

Price: 0.155 AUD

Market Cap: $83.46 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...

FOR OUR FULL DISCLAIMER CLICK HERE

Buru Energy upbeat as it spuds Rafael 1

Buru Energy Ltd (ASX:BRU)'s Eric Streitberg speaks to Proactive soon after the news they've spudded the Rafael 1 conventional oil exploration well. They're targeting mean prospective resources there of 69 million barrels. Rafael 1, which was spudded on Sunday, is being drilled in Exploration...

3 weeks, 5 days ago

2 min read