A 3rd Horizontal should Wake Up the horizontal, page-13

Hopefully Eic will take this opportunity to share some new information rather than same old slides to stimulate more interest in the company and awaken more long term holders from their slumber.

Looks like horizontal wells at Ungani may be the last roll of the dice to significantly increase production. If this fails and production is to be at 1000 bopd, this flagship oil field might have to be considered an economic failure. Even though it has produced over 1 million barrels to date when you consider the costs associated with the drilling of essentially 8 wells (including the the two side tracks), Buru has not not made a significant amount of money to date and if the horizontals are unsuccessful I suspect they could be looking at an overall loss. Given Buru’s track record for drilling vertical wells into dolomite they better have their sh*t together for the upcoming horizontals.

Personally I’m also more excited about the Reeves target at YM and if we only get once success this year I want this one to come in due to it being a sandstone reservoir which may prove more reliable and hopefully easier to understand for commercial development. Maybe additional information regarding this formation will be shared in the up coming presentation from all of the recent reprocessing of seismic data.

Buru need to regain some credibility, they need to demonstrate to the market that they can actually make a net profit or at least achieve set milestones. When you look at past presentations referring to production rates greater than 3000 bopd and compare this to what they have actually achieved I wonder if it’s time for change...Why is the board and other senior management not making significant on market purchases (not referring to the CEO here due to the size of his current holding) if they think the company is undervalued and has so much potential?

Still hoping this will be the year that a discovery is made that will be an actual GAME CHANGER for the company.