Buru Energy : Weekly Drilling Report - Ungani 7H

ASX Announcement

17 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 17 September 2019.

Since the last report, the well has been drilled ahead in in 8½ inch (216 mm) hole to a total measured depth of 2,235 metres (total vertical depth of 2,140 metres) and 7 inch (178 mm) casing has been run and cemented to a measured depth of 2,226 metres.

ASX: BRU

The top of the Ungani Dolomite reservoir is interpreted from drill rate and drill cuttings to have been encountered as prognosed at 2,224.4 metres measured depth with good to excellent oil shows observed, and the 7 inch casing was set into the top of the dolomite reservoir as planned.

The current operation is carrying out a routine BOP function test with the forward operation as planned to run a 4½ inch (114 mm) cemented liner into to the top of the dolomite to provide an appropriate casing size for the coil tubing drilling operation. The NGD405 rig will then be demobilised from the well to the Miani 1 location 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		17 September 2019 at 06:00am (AWST)
	Total Measured Depth	2,235 metres (2,140 metres TVD)
	Commencement Date	26 August 2019
	Days Since	22 days
	Commencement
	Target Formation		The well is a precursor well to a horizontal development section in
		the Ungani Dolomite reservoir of the Ungani Oilfield.
	Operations Since Last		Since the last report, the well has been drilled ahead in in 8½ inch
		(216 mm) hole to a total measured depth of 2,235 metres (total
	Progress Report		vertical depth of 2,140 metres) and 7 inch (178 mm) casing has
			been run and cemented to a measured depth of 2,226 metres.
			The top of the Ungani Dolomite reservoir is interpreted from drill
	Hydrocarbons Indications		rate and drill cuttings to have been encountered as prognosed at
		2,224.4 metres measured depth with good to excellent oil shows
			observed, and the 7 inch casing was set into the top of the dolomite
			reservoir as planned.
			The current operation is carrying out a routine BOP function test
			with the forward operation as planned to run a 4½ inch (114 mm)
	Forward Operations		cemented liner into to the top of the dolomite to provide an
		appropriate casing size for the coil tubing drilling operation. The
			NGD405 rig will then be demobilised from the well to the Miani 1
			location and the reservoir section will be drilled underbalanced with
			coiled tubing.

2

Level 2, 16 Ord St West Perth WA 6005

1800 337 330

[e-mail]

ABN 71 130 651 437

NGD 405 rig

3

Level 2, 16 Ord St West Perth WA 6005

1800 337 330

[e-mail]

ABN 71 130 651 437