Buru Energy Limited (Buru Energy) provides the following update on operations at the Adoxa 1 exploration well as at 0600 hours Thursday 8 August 2019.
Buru Energy and Roc Oil (Canning) Pty Ltd each have a 50% equity interest in the Adoxa 1 well.
Since the last report, the well has been drilled ahead in 152 mm (6 inch) hole from 1,609 metres to a current depth of 1,916 metres.
The top of the Anderson Formation objective is interpreted to have been encountered at 1,730 metres measured depth. From a subsequent drilling break at 1,794.5 metres to the current depth a number of individual sand bodies have exhibited hydrocarbon shows described as fair to poor in cuttings samples.
The significance of these hydrocarbon indications and the previously encountered oil shows is difficult to determine from the current information and will be further evaluated with wireline logs at total depth.
Tel: +61 8 9215 1800
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.
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