Buru Energy Ltd (ASX:BRU)'s Eric Streitberg brings investors up to speed on work at the Rafael gas discovery, a new CEO appointment and a $14.4 million rights issue to fund this year's activities. Over the course of 2022, the energy stock plans to recomplete the Rafael 1 well and test additional gas-bearing zones, acquire a 3D seismic survey and complete commercialisation and field development studies. As a result, the one-for-six rights issue will provide a substantial funding runway to develop the Canning Basin discovery. Buru will also bring Beach Energy executive Thomas Nador on board as chief executive in September to oversee the business’ day-to-day operations and enact its forward strategy.
Buru Energy details Rafael's development, CEO appointment and rights issue
