Chair's Letter to Buru Energy Shareholders
Released
Released
Announcement PDF
ASX Announcement
11 September 2024
Letter from the Chair
Buru Energy Limited (Buru, Company) (ASX: BRU) attaches, in accordance with ASX Listing
Rule 3.17.1, a copy of a letter sent to shareholders by the Chair of the Buru Energy Board of
Directors.
This ASX announcement has been authorised for release by the Chair of Buru Energy.
For further information, visit www.buruenergy.com or contact:
Thomas Nador, Chief Executive Officer
Telephone: +61 8 9215 1800
Freecall:
1800 337 330
Email:
info@buruenergy.com
1
Level 2, 16 Ord St West Perth WA 6005
1800 337 330
info@buruenergy.com
ABN 71 130 651 437
11 September 2024
Dear Buru Energy Shareholders,
On 15 August 2024 I was appointed Chair of your Company – Buru Energy Limited.
Firstly, I take the opportunity to acknowledge and thank Mr Eric Streitberg, the former Chair,
for his leadership and commitment since the Company was founded in 2008.
The Australia and global energy environment are undergoing significant change.
Notwithstanding these changes, reliability and the cost of supply will remain key criteria for
success and growing shareholder value.
In this context, Buru Energy is now uniquely positioned to further develop its assets in the
Kimberley region for the benefit of its shareholders and other stakeholders with the
Company’s portfolio of gas, oil and new energy opportunities providing numerous pathways
for growth.
The Company’s core medium-term priority is to establish a robust, long-term foundation cash
flow. I fully support this emphasis. Based on my review to date, I believe this priority is best
delivered from the development of the conventional Rafael gas and condensate discovery
made in late 2021. Work is progressing well on the Rafael Phase 1 gas project, and I expect
there will be plenty more to report on this in the near future.
Recommencing oil production from the Ungani Oilfield and pursuing high potential
exploration opportunities where they add near term value are also being prioritised.
I am confident that your Company has the leadership and access to the capabilities required
to make the right decisions and execute upon them.
I look forward to working with the Buru Board of Directors and Management to deliver
sustainable value growth for our shareholders and the communities with whom we work.
Yours sincerely,
David Maxwell
Non-Executive Chair
2
Level 2, 16 Ord St West Perth WA 6005
1800 337 330
info@buruenergy.com
ABN 71 130 651 437
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