Buru Completes 2D Geophysical Survey Over EP457 in Western Australia
Rey Resources Limited reported Monday that it has been informed by Buru Energy Limited, the firm's partner and operator of the Fitzroy Blocks in the Canning Superbasin in central northern Western Australia, that a 2D geophysical survey has been completed with total of 145 miles (234 line kilometers) acquired over the Ungani Trend in EP457. Data quality is reported as good and seismic processing will occur over the remainder of 2013.
A regional airborne gravity survey over the area, including the Fitzroy Blocks, is expected to be completed in early December.
Data from the surveys will inform target selection for conventional oil targets along the Ungani Trend in the Fitzroy Blocks, the first of which is anticipated to be drilled in 2Q 2014.
A 2D seismic survey is scheduled for EP 458 in 2014.
Rey holds a 25 percent interest (including a 10 percent free carried to production) in a joint venture on the Fitzroy Blocks along with Buru (37.5 percent and operator) and Diamond Resources (Fitzroy) (37.5 percent) who are a 100 percent subsidiary of Mitsubishi Corporation.
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