Buru Energy : Weekly Drilling Report - Miani 1

ASX Announcement

15 October 2019

Miani 1 - Weekly drilling report

Buru Energy Limited (Buru Energy) provides the following update on operations at the Miani 1 exploration well as at 0600 hours Tuesday 15 October 2019.

Since the last report, the well has been drilled ahead in 171 mm (6-3/4 inch) hole to a depth as at 0600 hours today of 2,142 metres in the Lower Laurel Shales/Gumhole Formation.

ASX:The forwardBRU operation is to continue to drill ahead in 171 mm (6-3/4 inch) hole to a planned total measured depth of 2,400 metres. The principal objective Nullara Formation is expected to be encountered in the coming week.

The weekly drilling progress report for the well is attached.

Visit www.buruenergy.comfor information on Buru Energy's current and future activities.

For investor inquiries please contact Buru Energy:

Telephone: [phone]

Freecall: 1800 337 330

Email: [e-mail]

Qualified Petroleum Resources Evaluator Statement

Except where otherwise noted, information in this release related to exploration and production results and petroleum resources is based on information compiled by Eric Streitberg who is an employee of Buru Energy Limited. Mr Streitberg is a Fellow of the Australian Institute of Mining and Metallurgy and the Australian Institute of Company Directors, and a member and Certified Petroleum Geologist of the American Association of Petroleum Geologists. He has over 40 years of relevant experience. Mr Streitberg consents to the inclusion of the information in this document.

1

Level 2, 16 Ord St West Perth WA 6005

1800 337 330

[e-mail]

ABN 71 130 651 437

Weekly Well Operations Report - Miani 1

				The Miani 1 well is located in Production License L8 in the Canning
	Permit		Basin of northwestern Western Australia. The well is located 70 kms
		east of the town of Derby and 30 kms northwest of the Blina oil
				field.
	Well Surface Location		Latitude: 17° 30' 8.3341"S	Northing: 8,064,446 mN
		Longitude: 124° 14' 26.7657"E	Easting: 631,723 mE
	Buru Energy's Interest		Buru Energy Limited holds a 100% interest in the well and in L8,
		and is the operator.
	Date of Progress Report		15 October 2019 (AWST)
	Proposed Total Depth		+/- 2,400 metres MDRT
	Current Depth		2,142 metres
	Commencement Date		2 October 2019
	Days Since Commencement		13 days
				The objective of the well is conventional oil hosted in a stratigraphic
	Target Formation		trap interpreted to have been formed by a fault bounded collapse
		feature enhanced by hydrothermal dolomitisation of the Nullara
				reefal carbonates.
	Operations Since Last Progress		Since the last report, the well has been drilled ahead in 171 mm (6-
		3/4 inch) hole to a depth as at 0600 hours today of 2,142 metres
	Report
		in the Lower Laurel Shales/Gumhole Formation.
	Hydrocarbons Indications		No material hydrocarbon shows (none expected).
				The forward operation is to continue to drill ahead in 171 mm (6-
	Forward Operations		3/4 inch) hole to a planned total measured depth of 2,400 metres.
		The principal objective Nullara Formation is expected to be
				encountered in the coming week.

Miani 1 location map

2

Level 2, 16 Ord St West Perth WA 6005

1800 337 330

[e-mail]

ABN 71 130 651 437