Buru Energy: Oil Encountered at Ungani Far West 1 Well

Buru Energy announced Thursday oil has been encountered at the Ungani Far West 1 well, located within production license L21 in Western Australia.

An oil sample was recovered from the top of the well’s Anderson Formation, at a depth of around 5,118 feet, and interpretation of pressure data indicates the well holds a potential oil column of at least 45 feet, according to a company statement, of which around 16 feet is identified as net pay. A sampling program to confirm these results is currently ongoing.

Following the completion of a sampling and logging program, Ungani Far West 1 will continue to be drilled ahead to the top of the Ungani Dolomite reservoir where 5 inch casing will be run and the Atlas Rig 2 will be released. Buru Energy and Diamond Resources (Fitzroy) each holds a 50 percent equity interest in the well.

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

“This is an excellent outcome for the Ungani area and the Canning Basin generally with an oil discovery in a new play for the Ungani area. There has been previous oil production from the Anderson Formation in the Canning Basin but it was on the Lennard Shelf in Buru Energy’s Blina tenements on the other side of the Canning Basin, over 125km (77 miles) from this discovery.

“Not only is this a play opening discovery in the Ungani area but there are numerous leads and prospects at this shallower level in the area and these will now be evaluated for future drilling. We will now drill on and see what awaits us in the Ungani Dolomite section, which is the main target of the well.”

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