Buru Energy (ASX:BRU) said it was advancing asset and corporate initiatives to fund upstream capital to the final investment decision of around AU$40 million at the Rafael Gas Project in Western Australia for Rafael B and Rafael 1 re-completion in the second quarter of 2026, according to a Tuesday Australian bourse filing.
It has an agreed business model with Clean Energy Fuels Australia to finance, build, and operate a 250 tonnes per day to 300 tonnes per day capacity liquified natural gas plant, with associated marketing and product distribution.
The downstream and/or midstream capital expenditure is expected to be around AU$150 million. It is planning a 2026 development drilling program, intended to maximize the completion of higher net-to-gross reservoir sections.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.