Buru Reverses Decision to Abandon Paradise-1 Well On Oil Discovery

Australia's Buru Energy said Tuesday that it will suspend its Paradise-1 well – located in EP 428, around 124 miles (200 kilometers) southeast of derby – rather than plug and abandon it.

Buru had earlier announced on June 21, 2012, that it was planning to plug and abandon the well as poor hole conditions had prevented evaluation. The well was drilled to a depth of 9,180 feet (2,798 meters) and wireline logs had been attempted in early-June 2012 to evaluate the hole section. 
However, during its preparations to abandon the well, live oil was recovered to the surface. 
A remedial cement job on the seven inch casing over the oil zone was carried out and the well has been suspended in a way to allow future testing and evaluation of the zone.
"We were very frustrated that we were unable to obtain a definitive test of the oil zone for a variety of mechanical and operational reasons when we originally drilled the well. However, the wait appears to have been worthwhile with the continued recovery of live oil being a very positive development," Buru's executive director Eric Streitberg said in a statement. 
The Paradise-1 well is the second well drilled in the Buru-Mitsubishi Corporation (MC) 2012 Joint Exploration Program.
Buru had released the Century Rig 7 and deployed it to the Ungani North-1 well site. 
The Ungani North-1 well is located in exploration permit E391 of the Ungani field. Buru 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 the Ungani North-1 well.


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