Ann: Senex and GLNG amend WSGP gas sales arrangements, page-19

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CEOChair

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12/09/18

19:50

Post #: 35559419
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Originally posted by rabbi ↑

On a similar note, over in the Canning, Buru had a deal with Alcoa to supply gas with Alcoa prepaying
25 million in advance for the gas contract. This was all a pipe dream as there is a fracking moratorium
so Buru has had to pay back the $25 million to Alcoa over a period of time. To add to Burus woes the oil in the Canning is not exactly gushing out of the ground, and most wells are requiring electric submersible pumps to obtain a commercial rate. Their partner Mitsubish got out with Buru giving them a considerable
percentage of their gas assets. Now new partner Roc has come to the rescue with a new deal, which gives Roc 50% of the oil for a considerable cash injection of $64 million. But even now Buru is struggling to lift their oil run rate
and to date is not disclosing exactly what their daily oil production rate is. Once again its turned into dog day afternoon.

different but similar.

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Some of that is more accurate than other parts, but as this isn’t the BRU forum, never mind.
For anyone interested in the progress of WA’s scientific inquiry into fracking, the report was just handed to the minister for consideration this afternoon and findings should be known in about 3 weeks if he follows the same process as his NT counterpart who took that long to lift their moratorium earlier this year. See:
https://hotcopper.com.au/threads/media-release-widespread-support.4426964/page-8?post_id=35558246

Last edited by CEOChair: 12/09/18

SXY Price at posting: 45.0¢ Sentiment: None Disclosure: Held
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