Buru Energy : Weekly Drilling Report - Ungani 7H

ASX Announcement

10 September 2019

Ungani 7H - Weekly Drilling Report

Buru Energy Limited (Buru Energy) provides the following update on operations at the Ungani 7H well as at 0600 hours Tuesday 10 September 2019.

Since the last report, the well has been drilled ahead in in 8½ inch (216 mm) hole to a depth as at 0600 hours today of 2,037 metres building hole angle as planned. Drilling progress to

date has been in line with expectations and has included a trip to change out the bottom

ASX: BRU

hole assembly and to condition the hole prior to drilling into the shale zone in the deviated hole section.

The forward operation is to continue to drill ahead in 8½ inch (216 mm) hole to a planned section TD of ~2,275 metres prior to running 7 inch (178 mm) casing followed by a 4½ inch (114 mm) liner to TD. The NGD405 rig will then be demobilised from the well and the reservoir section will be drilled underbalanced with coiled tubing.

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 - Ungani 7H

				The Ungani 7H well is located in Production License L 20 in the
	Permit		Canning Basin of northwestern Australia, 97 kms east of Broome.
		The surface location is some 500 metres to the southwest of the
				Ungani 1ST1 and 2 wellheads and the Ungani Production Facility.
	Well Surface Location		Latitude:	17° 59' 38.9"S	Northing:	8,010,455 mN
		Longitude:	123° 09' 40.0"E	Easting:	517,056 mE
	Buru Energy's Interest		Buru Energy Limited holds 50% interest in the well and L 20 and
		is the Operator.
	Date of Progress Report		10 September 2019 at 06:00am (AWST)
	Proposed Total Depth		+/- 2,275 metres MDRT
	Current Depth		2,037 metres
	Commencement Date		26 August 2019
	Days Since		15 days
	Commencement
	Target Formation		The well is a precursor well to a horizontal development section in
		the Ungani Dolomite reservoir of the Ungani Oilfield.
				Since the last report, the well has been drilled ahead in in 8½ inch
				(216 mm) hole to a depth as at 0600 hours today of 2,037 metres
	Operations Since Last		building hole angle as planned. Drilling progress to date has been
	Progress Report		in line with expectations and has included a trip to change out the
				bottom hole assembly and to condition the hole prior to drilling into
				the shale zone in the deviated hole section.
	Hydrocarbons Indications		None - None expected.
				The forward operation is to continue to drill ahead in 8½ inch (216
				mm) hole to a planned section TD of ~2,275 metres prior to running
	Forward Operations		7 inch (178 mm) casing followed by a 4½ inch (114 mm) liner to
				TD. The NGD405 rig will then be demobilised from the well and the
				reservoir section will be drilled underbalanced with coiled tubing.

NGD 405 rig

2

Level 2, 16 Ord St West Perth WA 6005

1800 337 330

[e-mail]

ABN 71 130 651 437