Buru Energy Limited (AU:BRU) has released an update.
Buru Energy Limited has identified a promising shallow prospect named Rafael Shallow in the Canning Basin, with a potential of 19 million barrels of recoverable liquids. The company has deferred partner selection for its conventional gas and condensate discovery while it completes technical evaluations, leading to a delay in appraisal activities to 2025. Despite this, Buru remains focused on near-term value creation through a cost-effective shallow drilling program and is working to optimize initial development to minimize capital costs and timelines.
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