Australia's Buru Abandons Paradise-1 Well

Australia's Buru Energy reported Thursday that it plans to plug and abandon its Paradise-1 well – located in EP 428, around 124 miles (200 kilometers) southeast of Derby – as poor hole conditions have prevented evaluation.

The well was drilled to a depth of 9,180 feet (2,798 meters) and wireline logs have been attempted to evaluate the hole section.

"Poor hole conditions have prevented evaluation of the zones of interest by wireline logs," Buru said.

Buru will release the Century Rig 7 and deploy it to the Ungani North-1 well site.

The Paradise-1 well is the second well drilled in the Buru-Mitsubishi Corporation (MC) 2012 Joint Exploration Program.

The Ungani North-1 well is sited in exploration permit E391 of the Ungani Field. Buru had estimated on June 5, 2012 that the Ungani North structure has the potential to hold a recoverable volume of 30 million barrels of oil.

Buru and MC each have a 50-percent stake in both the wells. 

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