Buru Energy : Corporate Presentat

CORPORATE UPDATE | December 2020 (ASX:BRU)

Tier 1 asset

portfolio

Strong balance

sheet

Fast tracked exploration

Planning for the

future

Strong partners

Basin wide high graded exploration portfolio. Existing oil production and major gas resources

Projected A$20mm cash at 31 December 2020, no debt, high value farmin concluded

Agreed drilling program for 2021 on large scale conventional oil targets

Extensive prospect and regional scale seismic over large play types for future exploration prospects

Buru Operator with Origin Energy farming in to exploration for up to 50%, ROC Ungani Oilfield 50%

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Western Australian company based in Perth with office and facilities in Broome

Listed on ASX - market cap ~A$40mm (US$30mm)

Permit areas in the Canning Basin of ~22,000 sq kms (5.4 million acres) gross with 2.6 million net acres after farmout

Strong balance sheet (A$20mm cash at Dec 20, no debt) with cash flow from oil production in operated Ungani Oilfield

Long term secure tenure with no immediate government drilling commitments

Experienced local operator with strong partners

Early stage minerals JV to leverage geological data base

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Conventional oilfield with excellent quality vugular dolomite reservoirs and high quality oil

Buru 50% and Operator with Roc Oil 50%

Production targeted at ~1,000 bopd with field in natural decline

Oil is sold FOB into the spot market under contract with BP

Secure oil export route via long term trucking, storage and offloading contracts through the Port of Wyndham

Production is profitable at current oil prices with effective cost reductions during 2020 and no COVID19 production interruptions

Potential for production increases through current well optimisation and additional well drilling being considered by the joint venture

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