Buru Energy spuds Rafael 1 – high upside oil exploration well
Western Australian focused oil and gas company Buru Energy (ASX: BRU) today announced that the Rafael 1 conventional oil exploration well was spudded at 01:45 hours on Sunday the 22nd of August 2021.
Rafael 1 – conventional oil exploration well spudded on 22 August 2021.
Targeting mean prospective resources of 69 million barrels*.
Expected total depth of 3,865 metres.
Rafael 1 to be followed by Ungani 8 oil development well in the Ungani Oilfield.
The Rafael 1 exploration well is being drilled in exploration Permit EP 428 in the Canning Basin in northwest Western Australia.
Rafael 1 is located some 50 kilometers to the east of the Ungani Oilfield and some 150 kilometres east of Broome.
Buru’s Executive Chairman Eric Streitberg commented:
“We are very excited to be finally drilling the Rafael 1 well. The Rafael prospect has a large geologically highly prospective target that could be transformational for Buru and for Western Australia’s oil sufficiency.
“The Ensign 963 rig that is drilling the Rafael 1 well has performed well on the previous Currajong 1 well, and the inter-well move from Currajong to Rafael was completed on time and budget with no incidents.
“We are also very much looking forward to the commencement of the Currajong 1 test program which is aimed at validating our interpretation of the well data and confirming we have encountered a significant oil accumulation.”