ASX code BRU
Buru Energy Limited
explores, evaluates, and develops oil and gas resources in
Australia. It has interests in petroleum exploration permits and
licenses covering an area of 16 million acres in the Canning Superbasin in the Kimberley region of Western Australia.
According to Macroaxis, the company
has return on total asset (ROA) of (6.6) % which means that it has
lost $6.6 on every $100 spent on asset. This is way below average.
Similarly, it shows return on equity (ROE) of (14.63) % meaning that
generated substantial loss on money invested by shareholders.
Native title boss on payroll of miner
The Australian January 01, 2014 BURU Energy's
controversial plan to "frack" a series of shale gas wells in
the Kimberley within months has received a sudden boost
after one of its employees became the chairman of the key
native title body that has previously led opposition to the
petroleum company's activities.
Neil McKenzie, who has been employed as
Buru's traditional owner liaison manager for the past two
years, has taken over from indigenous leader Patrick Dodson
as head of the Yawuru native title organisation, which holds
500,000ha in and around Broome.
Buru Energy is planning to use the controversial process
of fracking in five gas wells between Broome and Derby.
16 May, 2013 - In an announcement to the Stock Exchange this month, the
petroleum exploration company Buru say they have "approvals underway" for a fracking
program with "five wells ready for fracs".
Buru Energy's Executive Director Eric Streitberg says the fracking program will
be conducted on wells drilled into the Laurel Formation which is a geological
formation within the massive Canning Basin.
Buru's 2010 fracking program took place on the traditional
country of the Yawuru people of Broome and surrounds. Following this fracking
program, Yawuru Chairman Patrick Dodson said that Yawuru people are opposed to
fracking on Yawuru country until they can be satisfied that it doesn't pose a
risk. It's a position that remains unchanged.
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The Company’s Yulleroo 3 well is located in Exploration Permit EP
391 some 80 kilometers to the east of Broome.
The Asgard 1 well is located in Exploration Permit EP 371 some 180
kilometers to the southeast of Derby, and 30 kilometers northeast of
The Ungani North 1 well is located in Exploration Permit EP 391 some
100 kilometers to the east of Broome, and lies some six kilometers
north of the Ungani Production Facility. The Yulleroo 4 well is
located in Exploration Permit EP 436.
The Company’s subsidiaries include Terratek Drilling Tools Pty
Limited, Royalty Holding Company Pty Limited, Buru Energy (Acacia)
Pty Limited, Buru Operations Pty Limited and Yakka Munga Pastoral
Company Pty Limited.