Buru Energy Limited (AU:BRU) has released an update.
Buru Energy Limited is gearing up for a promising drilling campaign in the Canning Basin, having secured a Letter of Intent with Silver City Drilling for their Rig 24 to drill two potential high-value oil wells. The drilling, targeting prospects Rafael Shallow and Mars, forms part of a strategy to boost short-term shareholder value and fund the Company’s priority Rafael Deep gas project. This step follows recent partnership agreements and is on schedule for a late 2024 start, pending final approvals.
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