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Buru Energy and Sabre ink $6 million deal for Rafael shallow drilling

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Buru Energy Ltd (ASX:BRU) CEO Thomas Nador sits down with Jonathan Jackson in the Proactive studio after the company entered a farm-in agreement with Sabre Energy Pty Ltd to finance the drilling of the Rafael Shallow oil target within licence EP 428 in Western Australia's onshore Canning Basin. Under the agreement, Sabre Energy will cover $6 million in drilling and testing costs, earning a 50% stake in any commercial discovery and subsequent production licence. Buru retains a 50% interest and operational control. Additionally, Sabre will pay Buru $1.5 million for prior exploration expenses if a commercial discovery is made. Buru has estimated the Rafael Shallow target to hold 3.2 million to 79 million stock tank barrels of recoverable oil, with a best estimate of 19 million barrels. Nador highlighted the strategic value and strong market interest in the Rafael Shallow prospect. The partnership aligns well with Buru’s other projects, particularly the Ungani Oilfield. Preparations for drilling, scheduled for late in the third quarter, are in advanced stages with necessary equipment and approvals in place. #ProactiveInvestors #BuruEnergy #ASX #SabreEnergy #FarmInAgreement #OilExploration #RafaelShallow #CanningBasin #WesternAustralia #OilDiscovery #OilDrilling #EnergySector #ASX #Investment #OilProduction #ExplorationDeal #UnganiOilfield #EnergyPartnership #ResourceEstimation #DrillingProgram #EnergyNews #StockMarket #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews
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605 episódios

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Manage episode 432736608 series 2891889
Conteúdo fornecido por Proactive Investors. Todo o conteúdo do podcast, incluindo episódios, gráficos e descrições de podcast, é carregado e fornecido diretamente por Proactive Investors ou por seu parceiro de plataforma de podcast. Se você acredita que alguém está usando seu trabalho protegido por direitos autorais sem sua permissão, siga o processo descrito aqui https://pt.player.fm/legal.
Buru Energy Ltd (ASX:BRU) CEO Thomas Nador sits down with Jonathan Jackson in the Proactive studio after the company entered a farm-in agreement with Sabre Energy Pty Ltd to finance the drilling of the Rafael Shallow oil target within licence EP 428 in Western Australia's onshore Canning Basin. Under the agreement, Sabre Energy will cover $6 million in drilling and testing costs, earning a 50% stake in any commercial discovery and subsequent production licence. Buru retains a 50% interest and operational control. Additionally, Sabre will pay Buru $1.5 million for prior exploration expenses if a commercial discovery is made. Buru has estimated the Rafael Shallow target to hold 3.2 million to 79 million stock tank barrels of recoverable oil, with a best estimate of 19 million barrels. Nador highlighted the strategic value and strong market interest in the Rafael Shallow prospect. The partnership aligns well with Buru’s other projects, particularly the Ungani Oilfield. Preparations for drilling, scheduled for late in the third quarter, are in advanced stages with necessary equipment and approvals in place. #ProactiveInvestors #BuruEnergy #ASX #SabreEnergy #FarmInAgreement #OilExploration #RafaelShallow #CanningBasin #WesternAustralia #OilDiscovery #OilDrilling #EnergySector #ASX #Investment #OilProduction #ExplorationDeal #UnganiOilfield #EnergyPartnership #ResourceEstimation #DrillingProgram #EnergyNews #StockMarket #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews
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