Buru beefs up board
Buru Energy has beefed up its board ahead of its big 2021 energy exploration push with its newly minted partner, Origin Energy, as it seeks to flex its muscles further in Western Australia’s hydrocarbon-rich Canning Basin. Respected, long-serving non-executive director, Eve Howell will retire and three new non-executives will join the board as Buru gears up for 2021.
The newly minted trio of Buru directors is headlined by prolific company director and former senior Woodside executive Samantha Tough.
Tough led Woodside’s North West Shelf operations in the early 2000s and is no stranger when it comes to WA’s hydrocarbon markets.
She is also the Chairman of WA’s power utility, Horizon Power and the Pro Vice-Chancellor Engagement of the University of WA.
Interestingly, Tough is also a Director of the Federal Government’s $10 billion Clean Energy Finance Corporation that helps to mobilise capital investment in renewable energy, low emission technology and energy efficiency.
Petroleum Reservoir Engineer and current Managing Director of ASX-listed Blue Star Helium, Joanne Kendrick has also taken up the baton for Buru and will bring her 7 years of experience at Nido Petroleum to the table at Buru.
Kendrick is forging a path for Blue Star in the US helium market where she has been collecting vast tracts of land around the old Model Dome helium gas field in Las Animas, Colorado, that once produced helium at huge grades.
Her share price has responded too, hiking 13-fold in the last 12 months.
Former Shell International Chief Advisor, Malcolm King has taken up the third Buru board role.
King, a Geologist, was part of the well-side team when the significant Judith-1 reservoir was discovered which is now the primary asset of the $4.5 billion heavyweight, Emperor Oil.
He also recently led Senex Energy's commercial and business development functions for the Cooper Basin oil and Queensland coal seam gas businesses.
Buru is looking to undertake a significant regional seismic acquisition program with over 1,200 kilometres of seismic lined up over regional areas and conventional oil exploration targets.
Drilling will include two conventional oil exploration wells, Kurrajong 1 and Rafael 1 with Origin Energy. Contracts are expected to be awarded soon for a seismic contractor and several drilling rigs suitable for the program have now been identified.
Buru’s new-look board brings some significant hydrocarbon experience to bear on the ASX-listed company and only time will tell whether that collective experience can take the ambitious Buru to the next level.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au