Buru Releases Atlas 2 Rig After Drilling Praslin 1 Well in EP391 in WA

Buru Energy Ltd. provided Thursday the following final weekly update on drilling operations at the Praslin 1 well as at 06:00 hrs, Sept. 3 (AWST). Praslin 1 is located 56 miles (90 kilometers) east of Broome and 9 miles (15 kilometers) west of Buru Energy's producing Ungani oil field in Western Australia. Buru Energy and Mitsubishi Corp. each have a 50 percent equity and contributing interest in the Praslin 1 well and in EP391.

Since the last progress report, the well has been plugged back to 7,037 feet (2,145 meters) and a 3.5 inch (89 millimeter) completion string has been run to 6,955 feet (2,120 meters). A separate testing crew will undertake the well test as soon as practicable.

The Atlas 2 rig has been released and will now be mobilized to the Victory 1 location. This is the last weekly report in respect of the Praslin1 well.


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