Buru Energy Plans Flow Test at Ungani Far West 1 Well in WA's Canning Basin

Buru Energy Ltd. 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, Feb. 11.

Since the last progress report on Feb. 8, 2.875 inch (73 millimeter) production tubing has been run and cemented to a total depth of 7,874 feet (2,400 meters) and the DDH1 Rig 31 has been released. A flow test will be undertaken to determine the height of the oil column and the productivity of the well.

This will be the last weekly drilling report for the Ungani Far West 1 well. Results of the flow test will become available over the next two weeks.

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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