ASX Announcement
Buru Energy Limited
ABN 71 130 651 437
Level 2, 88 William Street
Perth, Western Australia 6000
Ph: +61 8 9215 1800
Fax: +61 8 9215 1899
www.buruenergy.com
ASX: BRU
6 February 2014
Buru Energy Limited provides the following weekly update on drilling operations at the Ungani 3 well as at 06:00hrs, 6 February 2014 (AWST).
The Ungani 3 well is currently drilling ahead at 2,119 MD metres in 12¼" hole, progress for the week is
99 metres. The slow progress was related to a bit change and conditioning the hole. The forward operation is to continue to drill ahead to tag the top of the Ungani Dolomite at which point the 9⅝" casing will be set prior to drilling through the Ungani Dolomite primary objective.
Ungani 3 is the first well in the Buru - Mitsubishi Corporation ("MC") 2014 drilling program. Buru and
MC each have a 50% equity and contributing interest in the well and the Ungani Field.
The Ungani 3 well is located in production application STP-PRA-0004 in exploration permit EP 391 some 100 kilometres to the east of Broome. The well location is some fifty kilometres from the Great Northern Highway along the Ungani access road.
The well has a programmed total depth of 2,340 metres and is expected to take some 35 days to drill and suspend.
In accordance with its policy of releasing weekly drilling progress reports, the Company will issue drilling progress reports each week, subject to any material events occurring in the meantime. From next week, the drilling report will be issued on Tuesday of each week.
Further information on the Company is available at: www.buruenergy.com
For inquiries please contact:
Dr Keiran Wulff Managing Director, or Chris Bath Company Secretary Telephone: +61 8 9215 1800
Freecall: 1800 337 330
Email: info@buruenergy.com
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About BuruBuru Energy Limited (ASX Code BRU, ASX 200) is a Western Australian oil and gas exploration and production company headquartered in Perth with an operational office in Broome. The Company's petroleum assets and tenements are located onshore in the Canning Basin in the southwest Kimberley region of Western Australia. Its flagship high quality conventional Ungani Oilfield project is owned in 50/50 joint venture with Mitsubishi Corporation. As well as Ungani, the Company's portfolio includes potentially world class unconventional gas and oil resources.
The company's goal is to deliver material benefits to its shareholders, the State of Western Australia, the Traditional Owners of the areas in which it operates, and the Kimberley community, by successfully exploring for and developing the petroleum resources of the Canning Basin.
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Drilling Progress Report - Ungani 3
PERMIT | The Ungani 3 appraisal well is located in production application STP-PRA-0004 in exploration permit EP 391 some 100 kilometres to the east of Broome. |
WELL LOCATION | Latitude: 170 59' 20.0" S Easting: 518470m Longitude: 1230 10' 28.0" E Northing: 8011035m |
BURU'S INTEREST | Buru Energy Limited holds a 50% interest in the well |
DATE OF PROGRESS REPORT | 06:00hrs, 6 February 2014 (AWST) |
PROPOSED TOTAL DEPTH | 2,340 metres |
CURRENT DEPTH | 2,119 metres MD |
PROGNOSED TIME TO COMPLETION | 35 days from spud |
SPUD DATE | 14 January 2014 |
DAYS SINCE SPUD | 23 days |
CURRENT TARGET FORMATION | The Ungani 3 well is targeting the Ungani Dolomite reservoir of the Ungani Field. |
OPERATIONS SINCE LAST PROGRESS REPORT | The Ungani 3 well is currently drilling ahead at 2,119 MD metres in 12¼" hole, progress for the week is 99 metres. The slow progress was related to a bit change and conditioning the hole. |
HYDROCARBON INDICATIONS | There have been no significant hydrocarbon indications since the last progress report. |
FORWARD OPERATIONS | The forward operation is to continue to drill ahead to tag the top of the Ungani Dolomite at which point the 9⅝" casing will be set prior to drilling through the Ungani Dolomite primary objective. |
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