Buru Energy Spuds Ungani Far West 1 Well in WA's Production License L21

Buru Energy Ltd. reported Monday the Ungani Far West 1 appraisal well in Western Australia was spud by Atlas Rig 2 at 10:30 AWST on Saturday Nov. 28.

The well is located on an all weather drilling pad approximately 0.6 mile (1 kilometer) off the Ungani access road within Production License L21, 60 miles (97 kilometers) east of Broome and 2 miles (3.3 kilometers) southwest of Buru Energy's Unganin Oilfield in the Canning Basin of northwestern Australia.

Ungani Far West 1 has a programmed maximum depth of 8,530 feet (2,600 meters) and the operation is expected to take some 48 days.

The well will appraise the western extent of the Ungani structure targeting conventional oil in the Lower Laurel (Ungani Dolomite) carbonates. The Ungani Far West closure lies within the greater Ungani structural complex in a separate culmination located to the west of the mapped Ungani Field outline. It is mapped on the 2014 Ungani 3D seismic as an independent structural feature with vertical closure of some 164 feet (50 meters), and if oil is present could add significantly to the currently estimated Ungani volumes.

The well is planned to acquire a full core over the Ungani Dolomite section which will provide further critical insghts into the reservoir character of the highly production Ungani Dolomite reservoir of the adjacent Ungani Oilfield. This information will also assist in further refinement of the Ungani oil resource volumes.

Equity and contributing interest for the well are as follows. The well is being drilled under the terms of the Ungani Development Funding agreement with Diamond Resources (Fitzroy) Pty Ltd.

  • Buru Energy: Equity Interest - 50 percent; Contributing Interest - 0 percent
  • Diamond Resources (Fitzroy): Equity Interest - 50 percent; Contributing Interest - 100 percent

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