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Welcome to the Buru Energy
2020 Annual Report

Buru Energy Limited is an ASX listed Australian energy company exploring and developing the petroleum resources of the Canning Basin, in the Kimberley region of north-western Western Australia.

Executive
Chairman’s Letter

Eric Streitberg
Eric Streitberg
Executive Chairman

“2020 was a year of substantial achievement but there were many challenges, with the corporate and commercial settings dominated by the COVID-19 pandemic.”

The pandemic presented enormous challenges to most businesses, with the oil and gas sector particularly affected by the collapse of the oil price and the restrictions on local and international travel. However, I am pleased to report that despite the oil price downturn and the consequent reduction in revenue, we were able to maintain production from our Ungani Oilfield at similar levels to the previous year by careful cost control and the efforts of our staff and contractors.

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Review of Operations

During the year the Company continued production from its Ungani Oilfield and continued exploration within its petroleum exploration permit areas, ultimately entering into farm-out transactions with Origin Energy for a Canning Basin-wide exploration program in 2021.

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Directors’ Report

For the year ended 31 December 2020

Board of Directors Buru Energy
Left to right: Samantha Tough, Malcolm King, Robert
Willes, Joanne Kendrick and Eric Streitberg.

The Directors present their report together with the consolidated financial statements of the Group comprising Buru Energy Limited (Buru Energy or Group) and its subsidiaries for the year ended 31 December 2020, and the auditor’s report thereon. The remuneration report for the year ended 31 December 2020 on pages 19 to 22 forms part of the Directors’ report.

Download Directors’ Report