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Buru Energy on schedule with Ungani 6H well drilling program

Buru Energy Ltd (ASX:BRU) executive chairman Eric Streitberg updates Proactive Investors on a drilling program just begun with a new rig in a new area at its Ungani 6H well.
Drilling has reached two-thirds the way down the first well and is due to be complete within the next week, with Buru expecting to finish the drilling program by the end of June. 
Streitberg said the company was drilling horizontally in the program rather than straight down as usual, enabling better results and potentially doubling production.

Quick facts: Buru Energy Ltd

Price: 0.155 AUD

Market: ASX
Market Cap: $66.97 m

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Buru Energy preparing to mobilise to drill the Adoxa 1 exploration well

Buru Energy Ltd (ASX:BRU) executive chairman Eric Streitberg talks to Proactive Investors about overcoming challenges with a drilling rig and some of the geology on the Ungani Oilfield onshore WA, to move forward positively.   Streitberg says while they had some issues, the joint...

on 11/7/19

2 min read