Buru Energy : Operations Update

ASX Announcement

9 March 2020

Operations Update

Buru Energy is pleased to provide the following update on operations at the Ungani field and the Ungani 6H well.

Ungani Oilfield

To date this year the Kimberley has experienced a more normal wet season than last year with the recent passage of a deep tropical low across the area. This resulted in the closure ASX:of theBRUGreat Northern Highway for several days due to flooding, and consequently the Ungani field was shutin for several days last week. The Ungani site and access road was not materially affected by the weather system. Production from the field has now resumed at some 1,500 bopd with the next lifting of Ungani crude from Wyndham due shortly. A further update on actual lifting volumes will be provided at the time.

Ungani 6H

The mobilisation from Queensland of the coil tubing unit for the Ungani 6H operation has also been delayed by road closures from flooding from the tropical low in the Northern Territory and Western Australia. The unit has now arrived at the Ungani 6H wellsite and is being rigged up to commence operations.

The planned Ungani 6H operations include the milling out of the cementing float shoe, the re-drilling of the remaining Ungani Shale section, the running and expansion of the liner section, and the drilling of the horizontal laterals into the Ungani reservoir. The overall operation is expected to take some 21 days to fully complete on a trouble-free basis.

Further updates will be made available at appropriate operational milestones.

This ASX announcement has been authorised for release by Eric Streitberg, Executive Chairman of Buru Energy.

For further information, visit www.buruenergy.comor contact:

Eric Streitberg, Executive Chairman

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 the Executive Chairman 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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