Buru Energy Ltd

Market Cap:
$45.37 m
0.11 AUD
52 weeks high
52 weeks low

Buru Energy Ltd is an ASX listed Australian oil and gas exploration and production company solely focused on exploring and developing the petroleum resources of the Canning Basin, in the southwest Kimberley region of Western Australia.

Canning Basin

Buru Energy’s permits lie in the Canning Basin, a geological unit in the southwest Kimberley region some 2,300 kms north of Perth. The area of Buru’s operations is low relief and is dominated by rangelands with large cattle grazing properties covering most of the area.

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Oil Production

Buru Energy has a 50% operating interest in the conventional Ungani Oilfield (production licences L20 and L21) with current production of approximately 1,000bopd. The field is profitable at oil prices greater than US$30 per barrel.

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Buru has full title to the extensive tight wet gas resources of the Laurel Formation in its permits through the central part of the Fitzroy Trough of the Canning Basin. The most well developed of these resources is the Yulleroo Gasfield where four wells have defined a substantial gas accumulation.

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Buru Energy has an extensive and highly prospective exploration portfolio including conventional oil and gas prospects that are well defined on both 2D and 3D seismic.  The portfolio covers a range of prospect sizes and play types from proven Ungani lookalikes to high potential play types for oil and gas.  Buru equities in these prospects range from 50% to 100% and it is operator for all these areas.

The Company is undertaking an exploration and development drilling program during 2019.

The first well in the program, Adoxa 1 on the Yakka Munga structure discovered a prospective oil zone and enhanced the prospectivity of the regionally extensive Reeves and Anderson Formations.

Buru is currently drilling in the Lennard Shelf area at the Miani (Hotdog) prospect, a large hydrothermal dolomite feature which has similar geological features to large North American fields.

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Schedule of tenements

Permit Type Ownership
L6* Production Licence 100%
L8 Production Licence 100%
L17 Production Licence 100%
L20 Production Licence 50%
L21 Production Licence 50%
PL7 Onshore Pipeline Licence 100%
PL109 Onshore Pipeline Licence 50%
EP129* Exploration Permit 100%
EP391 Exploration Permit 50%
EP428 Exploration Permit 50%
EP431 Exploration Permit 100%
EP436 Exploration Permit 50%
EP457 Exploration Permit 60%
EP458 Exploration Permit 60%


Last updated 7th November 2019

Mr Eric Streitberg
Executive Chairman
BSc (App Geoph)

Mr Streitberg has more than 40 years of experience in petroleum geology and geophysics, oil and gas exploration and oil and gas company management. He was a founding shareholder and held the position of Managing Director of ARC Energy Limited from 1997 until August 2008, during which time ARC Energy Limited was transformed from a junior oil and gas exploration company into a mid-size Australian oil and gas producer.  He was also the founding shareholder and Managing Director of Discovery Petroleum which was a key participant in the renaissance of the Perth Basin as a significant gas producer until the takeover of that company in 1996.  Prior to that he held various senior international exploration roles with Occidental Petroleum and BP.  He was a founding shareholder and Non-executive Director of Adelphi Energy Limited from 2005 until its takeover in 2010.  He is a founding shareholder of Buru Energy and has been a Director since its listing in October 2008.

He is a Fellow of the Australian Institute of Mining and Metallurgy and the Australian Institute of Company Directors, a member of the Society of Exploration Geophysicists, Petroleum Exploration Society of Australia and the American Association of Petroleum Geologists.

Mr Streitberg is a Director and past Chair  of the Australian Petroleum Production and Exploration Association and has also chaired the APPEA Exploration and Environment Committees.  He is the immediate past Chair of the Marine Parks and Reserves Authority of Western Australia.

Mr Streitberg is a Certified Petroleum Geologist and Geophysicist and holds a Bachelor of Science (App. Geoph.) from the University of Queensland.

Ms Eva (aka Eve) Howell
Independent Non-Executive Director

Ms Howell has over 40 years of experience in the oil and gas industry in a number of technical and managerial roles, primarily with Amoco Corporation, Apache Energy Ltd and Woodside Energy Ltd. She is currently a director of MMA Offshore Ltd.

Ms Howell has previously served on ASX-listed company boards including Downer EDI Ltd and Tangiers Petroleum (as Executive Chairman). She also served on the boards of the Fremantle Port Authority, the Australian Petroleum Production and Exploration Association, and as a board member and President of the Australian Mines and Metals Association.  She is a graduate of the Australian Institute of Company Directors.

Ms Howell began her exploration career in the UK and since 1981 has worked for several Australian based companies including Apache, during a time when the company developed significant oil production from the Carnarvon Basin and became the second largest domestic gas supplier. She held various senior positions in Apache in Australia including Exploration Manager, Business Development Manager and Managing Director. Between 2006 and 2011, Ms Howell was a Woodside Executive Committee member, with her positions including Executive Vice President – North West Shelf and CEO of the North West Shelf Venture and Executive Vice President – Health, Safety & Security.

Ms Howell holds a Bachelor of Science (with Honours in Geology and Mathematics) from King’s College, University of London and an MBA from the Edinburgh Business School.

Robert Willes
Independent Non-Executive Director

Mr Willes has over 25 years of extensive international experience in the oil and gas and energy industries. He is the Managing Director of Challenger Energy Ltd (ASX:CEL) and has previously served on a number of boards including the Australian Petroleum Production and Exploration Association (APPEA), North West Shelf Gas Pty Ltd, North West Shelf Liaison Co. Pty Ltd, North West Shelf Australia LNG Pty Ltd, North West Shelf Shipping Services Co. Pty Ltd, Carbon Reduction Ventures Pty Ltd and Perth Centre for Photography.

His early career with BP involved several positions in petroleum product supply, trading and marketing, and as a lead negotiator for numerous gas transactions in Europe.  He subsequently joined BP’s Group Mergers and Acquisitions team, where he led the divestments of Burmah Castrol’s Chemicals Division and Great Yarmouth Power Ltd, and advised the Corporation on a number of acquisition opportunities.

In Australia, Robert was BP’s General Manager of the North West Shelf LNG Project.  Robert also had overall accountability for BP’s interests in the Browse LNG and Greater Gorgon LNG Projects, and for Business Development activities in Asia Pacific.

More recently, Robert was CEO of Eureka Energy Limited, and was instrumental in managing the recommended A$107million on-market takeover by Aurora Oil and Gas Limited.

He is currently Managing Director of Challenger Energy Ltd, an ASX-listed oil and gas explorer with exposure to the emerging world-scale shale gas province in South Africa’s Karoo Basin.

Robert is a Graduate of the Australian Institute of Company Directors and member of the Association of International Petroleum Negotiators.  He holds an Honours Degree in Geography from Durham University in the UK, and has completed Executive Education Programmes at Harvard Business School in the USA and Cambridge University in the UK.

Mr Shane McDermott
CFO and Company Secretary

Mr McDermott, CA, AGIA, BComm (Accounting and Finance) has an accounting and auditing background having worked at a large international accounting practice for five years at its Perth office before joining Buru Energy in 2009. He is a member of the Institute of Chartered Accountants Australia and an Associate of the Governance Institute of Australia.


Last updated 7th November 2019

General and Media Enquiries

Perth office:

Level 2, 16 Ord Street
West Perth Western Australia 6005

PO Box 1903
West Perth WA 6872

Phone: 1800 337 330
Email: [email protected]
Emergency : 1800 219 070

Broome office:

5 Dawn Way
Bilingurr Western Australia 6725
P.O. Box 2836
Broome WA 6725

Phone: +61 8 9194 4000


If you have a question about your shareholding please contact Link Market Services:

Link Market Services Limited
Locked Bag A14

Perth Office

Level 4, Central Park
152 St Georges Terrace

Phone: 1800 810 859 (within Australia)
Phone: +61 2 8280 7100 (outside of Australia)
Fax: +61 2 9287 0303
Email: [email protected]


Last updated 7th November 2019

Registered and Principal Office

Level 2
16 Ord St
West Perth WA 6005

Telephone: +61 (08) 9215 1800
Facsimile: +61 (08) 9215 1899
Freecall:  1800 337 330

Share Registry

Link Market Services Limited
Locked Bag A14


1800 810 859 (Within Australia)
+61 (02) 8280 7211 (Outside Australia)

Perth Address

Level 4, Central Park
152 St Georges Terrace
PERTH  WA  6000

Email: [email protected]
Website: www.linkmarketservices.com.au


235 St George’s Terrace

Stock Exchange

Australian Securities Exchange
Exchange Plaza
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ASX Code



Last updated 6th August 2019