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An update from Buru Energy ( (AU:BRU) ) is now available.
Buru Energy Limited has announced the sale of its subsidiary, 2H Resources Pty Ltd, and certain non-core exploration assets in the Canning Basin to Koloma Australia Pty Ltd. This divestment is part of Buru’s strategy to focus on its core Rafael Gas Project, ensuring stable and growing cash flows. The transaction, which includes a potential $2 million acquisition consideration, allows Buru to monetize assets that require higher future investment while enabling Koloma to expand its portfolio of natural hydrogen assets in Australia. The move reflects Buru’s commitment to building a sustainable gas business in the Kimberley region, while Koloma aims to advance its hydrogen exploration and achieve carbon neutrality.
More about Buru Energy
Buru Energy Limited is an energy company primarily focused on the exploration and production of gas and condensate resources. The company is strategically directing its efforts towards the development of the Rafael Gas Project, aiming to generate long-term stable cash flow and shareholder returns. Buru Energy is based in Western Australia and has been involved in the rationalization of its exploration assets to streamline operations and focus on core projects.
Average Trading Volume: 863,298
Technical Sentiment Signal: Sell
Current Market Cap: A$17.93M
See more insights into BRU stock on TipRanks’ Stock Analysis page.