Buru Energy : Weekly Drilling Report - Adoxa 1

ASX Announcement

30 July 2019

Adoxa 1 - Weekly drilling report

Buru Energy Limited (Buru Energy) provides the following update on operations at the Adoxa 1 exploration well as at 0600 hours Tuesday 30 July 2019.

Since the last report, the well has been drilled ahead in 216 mm (8½ inch) hole with the casing while drilling system to a section depth of 646 metres where slow drilling was encountered and the 178 mm (7 inch) surface casing was then cemented in place.

The current operation is preparing to run in the hole to commence drilling the 152 mm (6

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inch) hole through the objective reservoir sections.

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 - Adoxa 1

			The Adoxa 1 well is located in Exploration License EP428 in the
	Permit		Canning Basin of northwestern	Western Australia. The well is
		located 120 kms east of Broome and 20 kms northeast of the
			Ungani oilfield.
	Well Surface Location		Latitude: 17° 55' 44.6641"S	Northing: 8,017,628 mN
		Longitude: 123° 20' 34.9175"E	Easting: 536,329 mE
	Buru Energy's Interest		Buru Energy Limited holds a 50% interest in the well and in EP428
		and is the operator of the permit and the well.
	Date of Progress Report		30 July 2019 (AWST)
	Proposed Total Depth		+/- 2,400 metres MDRT
	Current Depth		646 metres
	Commencement Date		24 July 2019
	Days Since Commencement		6 days
			The objective of the well is conventional oil in potentially stacked
			Reeves Formation clastic reservoirs in a similar section to where oil
	Target Formation		was recovered at the Ungani Far West 1 well. The Anderson
			Formation clastic reservoirs are a deeper secondary conventional oil
			target below 1,800 metres.
			Since the last report, the well has been drilled ahead in 216 mm
	Operations Since Last Progress		(8½ inch) hole with the casing while drilling system to a section
	Report		depth of 646 metres where slow drilling was encountered and the
			178 mm (7 inch) surface casing was then cemented in place.
	Hydrocarbons Indications		None - None expected.
			The current operation is preparing to run in the hole to commence
	Forward Operations		drilling the 152 mm (6 inch) hole through the objective reservoir
			sections.

2

Level 2, 16 Ord St West Perth WA 6005

1800 337 330

[e-mail]

ABN 71 130 651 437

3

Level 2, 16 Ord St West Perth WA 6005

1800 337 330

[e-mail]

ABN 71 130 651 437