Buru Steps Up Preparation to Appraise Rafael Discovery
Buru Energy Limited has stepped up preparations for the appraisal of its 100 percent-owned Rafael conventional gas and condensate discovery in EP 428 in the Canning Basin of Western Australia.
The company said in a media statement that it has placed orders with Marubeni-Itochu Tubulars Oceania Pty. Ltd. (Mito) for casing, Cactus Wellheads Australia (Cactus) for wellhead and XMT tree and R&D Solutions for casing accessories as part of a long lead item package to support the drilling of an appraisal well, and the recompletion and test of the Rafael 1 well, planned for the Kimberley field operating season in the second half of 2024.
The confirmation of these long lead items follows the completion of a recent $5 million share placement with existing major shareholders and new professional investors, with the proceeds aimed at maintaining the momentum of delineating the Rafael resource and its fast-tracked commercialization.
Detailed well design is progressing and discussions with potential rig providers are underway, Buru said.
Buru said that processing of the Rafael 3D seismic data is progressing on schedule with preliminary indications of significant data quality improvement observed from an extracted 11.6 square miles (30 sq km) swath of data around the Rafael well location. Once processed and interpreted, the 3D volume will inform appraisal well locations and provide data to support ongoing strategic partner selection activities.
“I am pleased to report to our shareholders that Buru continues to execute the plan to commercialize its Rafael gas and condensate discovery through discipline and good capital management”, CEO Thomas Nador said.
“Committing to the purchase of key long lead Items in support of appraisal activities in 2024, whilst maintaining a strong balance sheet during the strategic partner selection process are key to protecting and enhancing value as we progress toward being a gas developer and supplier in Western Australia”, Nador said.
To contact the author, email andreson.n.paul@gmail.com
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