Western Australian focused oil and gas company Buru Energy (ASX:BRU) advised the exploration drilling program being operated by Buru includes two wells, Currajong 1 and Rafael 1. Both these wells are large conventional oil prospects with a combined total of some 97 million barrels of prospective resources.
- Canning Basin exploration drilling campaign underway with mobilisation of Ensign rig 963 to the Currajong 1 location.
- Exploration drilling program targeting a combined 97 million barrels of conventional oil (mean prospective resources).
- Exploration wells to be drilled back to back – Rafael 1 to follow Currajong 1.
- Seismic program to commence in late June as crew becomes available from current Perth Basin contract.
Buru Energy Limited (Buru) is operating a major drilling and seismic program in the Canning Basin in 2021 with an initial program of two exploration wells on world class conventional oil targets, together with a wide ranging seismic program aimed at maturing prospects for drilling in future programs.
Under the terms of farmin agreements executed in December last year with Origin Energy, Buru is being carried for $16 million of the costs of the two exploration wells and for $6 million of the costs of the seismic program. The full details of these agreements are set out in the ASX Releases “Farm-out of Buru’s Canning Basin portfolio” and “Farm-out of EP457 and EP458” dated 21 December 2020.
The exploration drilling program being operated by Buru includes two wells, Currajong 1 and Rafael 1. Both these wells are large conventional oil prospects with a combined total of some 97 million barrels of prospective resources as set out below, and in the Buru ASX release of 22 March 2021: “Buru Energy set to commence major Canning Basin exploration drilling and seismic program”.
The program will be executed by the Ensign 963 drilling rig which is currently being mobilised to the Currajong 1 well site from the Kyalla location in the Northern Territory.
Site preparations at Currajong were completed recently prior to the rig move commencing.
The Rafael access road and well site clearing has been completed previously, with final wellsite works including installation of impermeable liners to commence shortly to ensure the well site is ready for rig acceptance at the completion of the Currajong 1 well.