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Buru Energy Limited (ASX:BRU)

ALERT: Price-sensitive ASX Announcement for BRU
Current share price for BRU : $0.012 -0.005 (-29.41%)+
Announcement
Release
18 Dec 2025 8:20AM
Price at Release
$0.017
Full Release
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Summary
Buru Energy Limited has made significant progress in its Rafael Gas Project located in the Canning Basin, Western Australia. Key achievements include obtaining environmental approval for its 2026 appraisal campaign, identifying the Flying Fox prospect, and receiving a two-year extension to apply for a Production Licence. The company has also secured A$4.4 million in funding and maintained a debt-free balance sheet. Buru plans to focus on validating resources and obtaining independent reserves certification by 2026, with the aim of achieving the first cash flow by 2028. A strategic development agreement with Clean Energy Fuels Australia has been executed to develop the project, which includes the construction of an LNG plant. The company is actively seeking further funding to support its next phase, including drilling operations anticipated to begin in 2026.
Key Points
  • Strategic Development Agreement with Clean Energy Fuels Australia for co-developing the Rafael Gas Project.
  • Environmental approval obtained for 2026 Rafael resource appraisal campaign.
  • Identified Flying Fox prospect with synergies to the Rafael Gas Project.
  • Received a 2-year extension for applying for a Production Licence.
  • Secured A$4.4 million via Placement and Share Purchase Plan.
  • Maintained a debt-free balance sheet.
  • Targeting first cash flow from 2028.
  • Plans for 2026 include securing funding for resource validation and reserves certification.
  • Final Investment Decision expected in 2H 2026.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.