CORPORATE UPDATE | September 2019 (ASX:BRU)
Diverse Portfolio
Underexplored Canning Basin in
NW WA
5.5 million gross acres (3.5 million net acres)
Experienced local operator with high permit equities
Profitable conventional oil production from Ungani Oilfield
Extensive exploration portfolio with active program
Major liquids rich tight gas portfolio with conventional potential
CORPORATE UPDATE SEP 2019 (ASX:BRU) | 2 | |
Value Circle
OIL AND GAS
WITH MAJOR
EXPLORATION
PROGRAM
SELF FUNDED
EXPLORATION AND
DEVELOPMENT
Balanced | Realising |
Portfolio | value |
FinancialProduction Strength
HIGHLY EXPERIENCED AND WELL CONNECTED LOCAL OPERATOR
CONVENTIONAL OIL PRODUCTION WITH ONGOING DEVELOPMENT
CORPORATE UPDATE SEP 2019 (ASX:BRU) | 3 | |
Oil Production: Ungani Oilfield
High quality conventional oilfield
Buru 50% and Operator (Roc Oil 50%)
Currently producing ~1,000 bopd
2019 development program with the aim of at least doubling production
Profitable at oil prices >US$30 per barrel
CORPORATE UPDATE SEP 2019 (ASX:BRU) | 4 | |
Ungani Oilfield: 2019 Program
Two horizontal production wells being drilled (U6H/U7H)
Wells being drilled by NGD 405 rig and then coil tubing unit for horizontal reservoir section
Wells drilled with NGD 405 rig to top of reservoir
Reservoir sections drilled with coil tubing unit horizontally and underbalanced to maximise production capacity
Ungani production facility being prepared for immediate production from new wells
CORPORATE UPDATE SEP 2019 (ASX:BRU) | 5 | |
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Buru Energy Ltd. published this content on 05 September 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 September 2019 08:16:04 UTC