Buru Energy's Strategic Shift

Buru Energy (ASX:BRU) is advancing its strategy to secure long-term cash flows by developing the Rafael Project. The company is working on commercial agreements and optimizing its asset portfolio, with plans to divest subsidiaries by early 2025.

Buru Energy's Development and Divestment Plans

Buru Energy is focusing on the development of the Rafael Project to create a sustainable gas and liquids business in the Kimberley region, aiming for significant cash flows from 2027. The company is enhancing subsurface imaging, planning new drilling activities, and engaging in partnerships. A final investment decision is expected by late 2025, with first gas in 2027. Buru is also planning to divest its subsidiaries 2H Resources and Battmin by Q1 2025, while rationalizing its Canning Basin acreage to concentrate on high-potential prospects.

Executive Insights on Buru Energy's Strategy

Buru Energy is committed to establishing a significant gas and liquids business in the Kimberley. Our aim is to generate substantial cash flows from 2027 by replacing imported fuels with locally sourced LNG and liquids. We are targeting a final investment decision by late 2025, with first gas anticipated in the second half of 2027. We are actively engaged in discussions to complete commercial agreements by Q1 2025. Enhanced imaging of our reservoirs has bolstered our resource confidence, and we plan further drilling in 2025 to support our project development.