Buru Energy Hits Oil at Praslin 1 Well

Buru Energy Limited announced Friday that it has encountered oil at the Praslin 1 exploration well, located in Western Australia.

Wireline logs of the well indicate that a gross oil bearing interval of 75 feet is present at the top of the interpreted Ungani Dolomite section in Praslin 1, according to Buru. The company also stated that the log response of the oil bearing interval is similar to that seen over the interpreted highly productive zone at the Ungani oilfield. The Praslin 1 well will now be plugged before being subjected to a production testing program. The rig used to drill the well will be moved to the Victory 1 well location.

Buru Energy Executive Chairman Eric Streitberg commented in a company statement:

“This is an excellent result, it indicates that the Ungani petroleum system extends for many kilometres along the structural terrace to the west of Ungani. It also gives us additional confidence that the trend extends to the east to the Victory and Senagi prospects that we will be drilling in this year’s program. There are many other similar prospects along these terraces, a number of which we have defined by 3D seismic. We look forward to the test results from the Praslin well and the rest of this year’s drilling program.”



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