Buru Energy completes successful Share Purchase Plan (SPP)

Buru Energy Limited (ASX:$BRU) has successfully completed the Share Purchase Plan (SPP), raising approximately $3.7 million. The SPP was strongly supported by shareholders, with applications totaling approximately $3.7 million. The funds raised will be used to progress the planned Rafael 2024 appraisal drilling program and commercialisation activities.

Executive Commentary on Share Purchase Plan Results

The results of this capital raise through a strongly supported placement and the significantly oversubscribed share purchase plan is a testament to our investors' confidence in our vision and the value we bring to the market. Buru is now well positioned to maintain the momentum it has built over the year to deliver against a defined strategy to commercialise its Rafael gas and condensate discovery, and by doing so, generate maximum value for our shareholders. I would like to express my gratitude to our valued shareholders for their trust, loyalty, and commitment to the Company.

Summary of Share Purchase Plan Completion and Future Plans

Buru Energy (ASX:BRU) has successfully completed the Share Purchase Plan (SPP), raising approximately $3.7 million. The funds raised from the SPP and the recent placement will be used to progress the planned Rafael 2024 appraisal drilling program and commercialisation activities. The company's CEO, Thomas Nador, expressed gratitude to the shareholders for their trust and loyalty. The successful completion of the SPP positions Buru well to deliver against its defined strategy to commercialise its Rafael gas and condensate discovery, aiming to generate maximum value for its shareholders.