Buru Updates on Drilling at Ungani Far West 1 Well in WA's Canning Basin

Buru Energy Limited provided Thursday the following weekly update on drilling operations at the Ungani Far West 1 well in the Canning Basin, Western Australia as at 06:00 hours, Jan. 28.

Since the last progress report, the well has been cored ahead in 3.99 inch (101 millimeter) hole to the current depth at 06:00 hours today of 7,759 feet (2,365 meters).

The top of the Ungani Dolomite was encountered at 7,682 feet (2,341.4 meters) and cores recovered from this point to the current drill depth have displayed well developed vugular porosity with strong mud gas shows and oil bleeding from cores.

The forward plan is to core ahead through the Ungani Dolomite reservoir section.

The well is located on an all weather drilling pad approximately 0.62 mile (one 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 Ungani Oilfield in the Canning Basin of northwestern Australia.

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

  • 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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